When Should You Consider Updating the Key Players in Your Special Needs Plan?

It’s a wonderful feeling to have completed and executed a plan for your child with special needs. But how often should you revisit the people you chose to be guardian, trustee, health care proxy, executor and/or trust protector?

Life changes. It’s inevitable for everyone.

Here are three questions to ask yourself in regards to changing the key players for your plan:

  1. How often should I review my decisions?
  2. When should I consider replacing any of my agents?
  3. What events in my own life might prompt me to reevaluate my choices?

Read on for factors to consider regarding each of these questions…

1. How often should I review my decision?

As a general rule, you should review your decisions once a year. Some professionals suggest you look over your plan on the signing anniversary. No matter when you do it, it’s best if you’re proactive and set a time on your calendar every year to review the people you chose to be helpers for your plan.

2. When should I consider replacing any of my agents?

Any time there has been a big life change that could affect your helper’s ability to serve in the role you chose for them, you should reconsider your choice. Unexpected health care crises, deaths, divorces, job losses or moving for a job, new marriages or births should all be taken into consideration.

Imagine your choice for guardian has just given birth to twins. How well can she care for your child now that this big shift has occurred in her own life?

Another thing to think about is their age. If you chose someone from your parents’ generation to help, are they still up to the task? Or have things changed for them since you named them?

3. What events in my own life might prompt me to reevaluate my choices?

Along the same lines as the question above, what changes have occurred in your life over the last year that might impact the plan you created? Have you had to relocate for a new job? Has your marital status changed? Is your child still a minor? Once your child hits the age of majority, you will no longer be able to make a lot of the decisions that you’ve been making for him or her during childhood.

Your Child Should Be Priority #1

What matters most are the interests of your dependent who has special needs. You carefully chose the agents you thought would be best for your child or loved one. Stay in touch with them regularly and continually re-evaluate their ability and willingness to serve. And don’t be afraid to ask them hard questions. If they truly want what is best for your child, then they should appreciate your honesty and straightforwardness. Everyone’s top priority should be doing what is in the best interest of your child.

As always, we at The Bell Law Firm are more than happy to help you with any special needs planning issues you may have, including talking through who the best agents might be, and how to effectively plan for your child’s future needs. If you have questions or concerns about which tool may be best for your loved one, please give us a call at 913-345-2323. We will be happy to speak with you!