Special Considerations for Special Needs Children

If you are responsible for a child with special needs, you may be concerned about what will happen to him or her after you are gone. In addition to day-to-day care, he or she may need expensive therapeutic and educational services.

A special needs trust may be an appropriate solution to help provide your child with sufficient financial resources to enjoy a good quality of life. Both for today and tomorrow. Denise, Kevin, and Kayla’s story below demonstrates how a special needs trust helped them prepare for the future financially.

Why Special Needs Trusts?
Supplementary Security Income and Medicaid benefits are available only to those who can demonstrate they lack sufficient income and financial assets to care for themselves. A variety of special needs trusts can help provide financial resources to your intended heir while preserving his or her ability to qualify for these important government benefits. Plus, the assets in the trust are managed and distributed by a trustee who is responsible for acting in the best interest of your child—according to your specific instructions, as outlined in the trust.

Learn More
Please contact your RBC Wealth Management financial advisor for additional information about special needs trusts. He or she can also answer your estate planning questions, discuss your specific goals and explore how trusts may help you preserve and share your family’s wealth. Use the advisor locator tool to find an advisor near you.

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