Addiction and mental health issues in the family — these two problems confront many of our clients. In this week’s podcast episode, we talk about some of the planning concerns facing clients with family members who are not able to manage their own care or finances. That often (but not always) means that clients create (or at least consider) third-party special needs trusts.
Does every impaired family member require a special trust? Not necessarily. But possible future treatment, limitations on ability to handle finances, and our restrictive public benefits systems require consideration.
Not every issue is financial, of course. Sometimes clients are more concerned about securing placement or treatment for their family member with a disability. Sometimes they are concerned about their own future care needs. We are accustomed to questions about addiction and mental health arising during our estate planning consultations.