Disability Planning

Once best known for her chart-topping hits, Britney Spears is now in the limelight for a much more somber reason.

For over a decade, Ms. Spears has been under a conservatorship following a decline in her mental health. That conservatorship has recently gained attention and notoriety as Ms. Spears and those around her allege that the arrangement has been abusive. The story of her conservatorship raises an alarming question: If a conservatorship could happen to a woman as powerful as Britney Spears, could it happen to you, too?

Fortunately, there are well-established ways to avoid a court-ordered conservatorship or guardianship in the event of incapacitation. Specifically, trusts and estates lawyers can help build a legal shield in the form of a revocable living trust.

For families with children, creating a comprehensive Houston estate plan is critically important. The need for such planning is even more important for those with children who have special needs. As with all parents, proper planning is the only way to ensure that children will be properly cared for if their parents pass away prematurely. However, children with special needs may have very specific needs that must be met. If these needs are not addressed in their parents’ estate plan, they are less likely to be cared for should one or both parents pass away. Furthermore, based on the severity of the child’s disability, parents may need to plan for ways to meet such needs long into adulthood.

One of the most common estate planning tools for parents with special needs children are trusts. A trust is an arrangement where property is placed under the ownership and care of a trustee for the benefit of one or more beneficiaries. It is almost always a good idea for parents of a special needs child to provide for the creation of a trust naming that child as a beneficiary. However, the creation of a trust is not the only thing for parents to consider. Here are a few estate-planning considerations for parents interested in creating a trust for their child with special needs.

Articles Tagged with Disability Planning

How Recent Concerns Surrounding Conservatorships Can Play into a Texas Estate Plan

Adding a Special Needs Trust to Your Houston Estate Plan

Choosing the Right Type of Trust