Wednesday, February 15, 2017

Adulting: Special Needs Trusts and Advanced Directives

One would think that by the time you have been married for 10 years and have birthed four children that you would certainly be considered an official "adult."  Zella has taught me that, in fact, I know nothing about adulting.  This morning Jake and I spent an hour and a half at a local law firm speaking to an incredibly nice attorney about all of the things we never thought we would ever talk about...

*executors
*trustees
*guardians
*conservators
*custodians
*power of attorney documents
*child trusts
*special needs trusts

...and the list goes on.

Questions included where we want remaining funds to go upon Zella's death...since she won't have children of her own.  Or who we would like her guardian to be...and the backup...and the backup's backup...and the backup's backup's backup.

We discussed how to create Zella's special needs trust.  Any money left to her will need to be put there and specifically earmarked for increasing her quality of life, but not specifically to take care of her education and medical care (because the government will then deny her the medical benefits she qualifies for).  Clearly we have outgrown Legal Zoom...

Adulting at its finest.



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