ESTATE PLAN FOR A CHILD WITHDISABILITIES Make Sure Your Kids Are Provided For!
Parents of children with disabilities often make a terrible mistake when it comes to their estate planning: They make a pinky promise with one of their other children or a family friend to take care of the child with disabilities. This might seem like the best way to ensure your son or daughter is provided for after you pass. After all, you probably picked the person you trust most! And excluding your child with disabilities from your will/estate planning ensures they don’t lose their Medicaid coverage, but unfortunately, this approach still puts your child at risk. The Worst-Case Scenarios Imagine that you have a son with Down syndrome named Jimmy and a daughter named Susie. You leave your whole estate to Susie because she has promised that she’ll look after Jimmy. But then, one of these things happens: The Messy Divorce Susie gets married, then the marriage goes south. In divorce court, her ex wins some of the money you left for Jimmy’s care. Sorry Uncle Jimmy Susie passes away shortly after you do. The money intended to use to care for Jimmy now goes to her children. They may not have the ability nor inclination to care for Jimmy. TAKE A BREAK
The Prodigal Daughter Susie develops an addiction and spends the money you left her on that instead of Jimmy’s care. These are just a few ways the pinky-promise method can go wrong. As you can see, it’s not as safe a bet as it seems. A More Secure Strategy To really help Jimmy, you need to secure his future with binding legal documents. We recommend creating a Special Needs Trust.
This ensures that Jimmy, for the rest of his life, can benefit from the funds you leave him. If this special type of estate planning is done before you pass, then you gain great flexibility in how the trust fund is used, plus you have control over what happens to the money left in the trust fund after Jimmy’s death. To learn more about Special Needs Trusts, call our office and set up an appointment with Alison Packard. She is the mother of an adult daughter with special needs and can take care of your family’s special needs planning.
DIY HOLIDAY EGGNOG
Making your own eggnog is easier than you think! This creamy, delicious drink will be a hit with your holiday guests.
Ingredients 6 egg yolks
1/2 tsp nutmeg
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1/2 cup sugar
1 pinch salt
1 cup heavy whipping cream
1/4 tsp vanilla extract Cinnamon and whipped cream, for garnish
2 cups milk
Directions
1. In a medium bowl, whisk the egg yolks and sugar until light and creamy. Set aside. 2. In a saucepan over medium heat, stir together the cream, milk, nutmeg, and salt. Bring to a simmer. 3. Add a spoonful of the milk mixture to the egg mixture. Whisk vigorously and repeat, one spoonful at a time. 4. When most of the milk is whisked in, add the egg mixture to the saucepan. 5. Whisk until the liquid thickens slightly or reaches 160 F. Remove from heat and add vanilla extract. 6. Pour the eggnog into a glass container and cover. Refrigerate. 7. When the eggnog has thickened, pour it into glasses, garnish, and enjoy!
Candles Celebration Jingle Jolly
Mistletoe Ornament Present Santa
Sleigh Stocking Wassail Wreath
Inspired by TastesBetterFromScratch.com
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