WHEN planning for your special needs child, there are several things to consider. Parents and caregivers can make use of various financial tools to fund the care of their child or adult child with special needs. Insurance policies, savings accounts and limited Government of Jamaica programmes can be formed into a toolkit to provide your special needs child with the edge to take them right through to retirement.

With the help of an attorney-at-law, you can create a trust that will pay out these funds to a designated caregiver if you are not available to manage the day-to-day needs of your child.

What are these “special needs”? A special needs trust has been likened to a “parent’s pocket”, that is, it pays for the things that a parent would just reach into his or her pocket to cover.

These trusts typically pay for things like education, recreation, counselling, and medical attention beyond the simple necessities of life. The trustee can use trust funds for food, clothing and shelter, if the trustee decides doing so is in the beneficiary’s best interest despite a possible loss or reduction in public assistance. Remember, you must consult an attorney in order to structure this in the best possible way for your child.

Here are some examples of expenses that a special needs trust might cover:

* Medical and dental expenses not covered elsewhere

* Special equipment like wheelchairs or specially equipped vans

* Therapy or rehabilitation services

* Training and education

* Travel, which can include the cost of a companion

* Recreation and entertainment such as summer camp, movies or social events, videos, sports equipment

* Electronic equipment and appliances, computers

* Payments for a companion

* Legal or guardianship expenses

* Insurance

* Burial expenses

For more information regarding these topics and more, register for the September 13th Legal and Financial Planning Workshop hosted by the Jamaica Down’s Syndrome Foundation and Financially Focused. You may register at www.specialneedsjamaica.com or call 978-0829.