Archive for October 9th, 2008

An Estate Built for Special Needs

Written by Christopher J. Berry, Esq. on October 9, 2008 – 12:50 pm -

The Wall Street Journal had an interesting article regarding how to plan for special needs children.  As our office does this type of planning, it is good to see the word getting out that this type of planning is a necessity.

You can find the rest of the article here:

http://online.wsj.com/article/SB122351155944317491.html

A key compenent when our office prepares a special needs trust is the letter to caregivers.  The article talks about this concept in detail:

Letters for Caregivers

There are some other key steps families with special needs should take. Parents should create power-of-attorney or guardianship documents for finances and health care, naming themselves as their child’s agent or guardian when their child turns 18. Without this formality, parents of kids over 18 may not be able to have access to their child’s medical records or make health-care or financial decisions, says Boston lawyer Harry S. Margolis, the co-founder of the Academy of Special Needs Planners.

It’s also smart to create a “letter of guidance,” a document spelling out everything another caregiver should know about their child’s special needs, including medical diagnosis, treatment and medications, specific likes and dislikes, and food preferences or aversions. “You know things about your children that no one else on this earth knows,” says Michael Gilfix, a Palo Alto, Calif., lawyer who does a lot of special-needs planning. “This includes little things, like what breakfast food makes them happy or what breakfast food makes them really angry.”

Ms. Valentine, a client of Mr. Gilfix, recently wrote a letter of guidance for her son, Gabe. The document describes how Gabe is a huge San Francisco Giants fan, so any caregiver should make sure he gets tickets to home games. He doesn’t like ice cream or cake, but likes pizza. His epilepsy medication affects his teeth, so the letter recommends that he get his teeth cleaned regularly. “He actually loves the dentist,” she says.

If you have any questions on how to plan for a special needs child, please contact our office at (248) 865-4700.

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Tips for Selecting a Michigan Estate Planning Attorney

Written by Christopher J. Berry, Esq. on October 9, 2008 – 10:43 am -

  1. Identify prospective attorneys.  Talk to people who work with estate planning attorneys and friends and family who may have done estate planning.
  2. Schedule Screening Interviews.  Estate planning is an important process and you need to feel comfortable in selecting an attorney to work with you and your family.
  3. Determine if the attorney is qualified.  At the first interview, ask basic questions, for example : What percentage of your practice is devoted to estate planning?  What types of clients have you worked with?  Ask for references.
  4. Understand the Network of professionals.  Estate planning requires a holistic approach that involves a team of specialists: your attorney should not be a lone ranger.
  5. Discuss Fees.  You want someone that has a fee schedule that you are comfortable with.  Like many things in life, this is an area where you get what you pay for.
  6. Contact any references given.  Was the attorney proactive?  Responsive?  Any regrets or concerns?
  7. Prepare for the second interview.  Ask follow-up questions and bring personal documents you wish to discuss, such as current estate planning documents or insurance policies.
  8. Select your Michigan lawyer.  You want someone who is qualified, with whom you are comfortable, and has a network of professionals that he or she works with.
  9. Put it in writing.  Have a written fee agreement or retainer agreement to ensure that your expectations are met.
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