If you have a special needs child or relative, you may wonder how to provide for them after you pass away or are otherwise unable to provide care. Some people create a special needs trust, overseen by a trustee who dispenses payments for care, food and housing needs. But special care planning should not stop there. Your child or relative may also benefit from a life care plan.
According to CNBC, a life care plan is a document you put together that lists what your special needs relative requires. A life care plan can include a lot of different information. In general, a life care plan includes such things as the medical needs of your relative, including what your loved one needs to eat and which foods your relative cannot have. Life care plans can also list the family members and friends whom your relative associates with.
You would provide a life care plan to your trustee or anyone who has charge over your relative. A life care plan may reassure your trustee, calming possible concerns about how to care for your loved one. A life care plan may also list successor trustees so your trustee knows who will take over in the event the trustee cannot serve in that capacity any longer. Life care plans can also direct trustees to the financial resources they need to carry out their duties.
Kiplinger suggests some other information you could include if you are crafting a life care plan for a child. In addition to informing your trustee about the kind of medicine your child needs, you may also include names of medical providers. Spell out the likes and dislikes of your child. For instance, consider describing the kind of music your child prefers. You may include your long term plans for your child as well.
