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I am doing estate planning now and every new at this. My son is only 6 years old. I was wondering if I should create a special needs trust for my son that would be funded after I passed or if I should created a stand alone special needs trust now which is an extra 1500$. Just need advice from anyone familiar with this.
Also look into ABLE accounts. They are available in some states. We plan on funding that way as she won't be saving money for college.
Easterseals can give you more information on this and other things that tie into it.
what I mean with stand alone special needs trust is one I created now and a relative can put money in vs. a special needs trust that's created for my son when i and and my husband pass away.
I was wondering which of the two do most people have.
we did this but dont remember what “stand alone” part means both my kids have it
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