Estate Planning

Estate planning is the process of deciding how to leave your money and resources to your children after your death. Estate planning is the best way to ensure your child’s security and well-being after you are no longer there to support him or her. However, it is important to work with legal and financial professionals who are familiar with estate planning for people who have disabilities and who receive government benefits. Otherwise, you may create a plan that makes your child ineligible for programs such as Social Security or Medicaid in the future. This plan for distributing your financial resources and other belongings is called a will. Some parents choose to invest their financial resources in a special account called a trust, which, if organized and managed properly, can provide your child modest to considerable savings for services and other living expenses.

Organizations that provide information on estate planning include:

The Arc’s of Northern Virginia's Personal Support Trusts offer two low-cost trust programs that allow families to save money for their child’s future without harming eligibility for government benefits. The Arc also has a list of attorneys who have experience with estate planning for families who have children with disabilities.

(703) 532-3214

The Association for Special Kids does financial planning workshops and seminars for families.

1-800-832-0467

The National Information Center for Children and Youth with Disabilities publishes easy-to-read information about estate planning.

1-800-695-0285

Banks that have trust departments and can arrange trusts for families include:

First Virginia (703) 241-3292

NationsBank (703) 761-8366

Riggs & Company (703) 506-2778

SunTrust Bank (703) 838-3076

Wachovia (703) 873-3059