Many young adults and couples with minor-aged children may struggle for years to make ends meet. A job loss coupled with debt and varied monthly expenses often result in many Americans living paycheck to paycheck. When possible, some retired parents opt to help a struggling child financially. While traditionally most individuals waited until their passing to bequeath an inheritance upon their children, today many Americans are opting to pass on considerable wealth to grown children and grandchildren while they are still alive.
Using a special needs trust to provide for a disabled child
All parents worry about their children. As children grow and become adults, most parents are able to let go and trust that a grown child is able to care and provide for him or her self. However, when a child has a physical or mental disability, those worries and responsibilities often carryover into adulthood.
