The cost of caring for a loved one with special needs after you are gone will likely be more than you estimate. Unexpected and unforeseen costs are a reality, so it is important that you leave your loved one with more than you think they may need.

Once you have created a supplemental needs trust, your extended family and close friends can make gifts to it, or they can consider the trust when they plan their own estates. In addition to gifts from friends and family members, you can also consider making the trust the beneficiary of a life insurance policy. It makes sense to set this up early while you are healthy and rates are lower.

To learn more, visit www.specialneedsnewyork.com.