Secure Your Child's Future: Essential Guide to Special Needs Trusts

• A simple will is insufficient; a trust under the Indian Trusts Act, 1882, ensures supervised asset management for your child's long-term care.
• Carefully select trustees, often a family member and a professional, to ensure balanced financial decisions and oversight.
• Be highly specific about what the trust will cover, including medical, therapy, housing, caregivers, and daily living costs, to prevent future confusion.
• Fund the trust strategically, often using life insurance, and project long-term care costs and longevity for realistic planning.
• Create a non-legal Letter of Intent detailing your child's routines, preferences, and support network to guide trustees, and review the trust regularly.