THE LETTER OF INTENT

Who will be on your Team to carry on in the future?

Here are two questions to ask yourself to help you identify potential candidates for your team:  

Besides you, who knows your child best?  

Besides you, who loves your child? ❤️

The Family and Support Factors section includes: 

• Family Information  
• Professional Support Information  
• Social and Recreation Support Information  
• Friends and Extended Family Support Information  
• Other Family and Support Contacts 

No one can replace a parent but depending upon your Team's capabilities, availability and willingness, these are the folks you want making decisions on your child’s behalf. Some parents do not have people in their lives who can fulfill these roles but that is OK; there are qualified, caring professionals you can prepare to step into roles when you die or are no longer able to do all you do.  

A note about service providers. Included in your LOI will be several different individuals and agencies that will be in contact with your child. Some will be paid employees of government agencies and have specific responsibilities to meet the needs of your child in his or her capacity. You should identify the agency that each employee works for so that the future caregiver will know who to contact and what to expect from their services or supports. There is often a high turnover of support staff in human services provider agencies throughout the country, so it is particularly important to be in regular contact with the agencies and keep the contact information current. It is also a good idea to introduce future caregivers to these individuals early on.  

 Providing the money to keep supports going- and empower your team.  

Here are a few subtle, but important, planning tips to be mindful of: 

• Some people are lucky and have family, friends, and extended family members who help and support them without monetary payment. It is important to plan for these devoted individuals to have access to adequate resources (money) so they may continue to be a part of your child’s life regardless of their own personal financial circumstances.  
  
• Specifically think about and plan for a situation where one of your other children has to relocate or significantly change their work to provide the care their brother or sister needs, If possible, there should be money set aside to compensate this sibling and allow them to continue to meet their own needs and pursue their own goals.   

• Try to make it financially possible to continue any special traditions that are important to your child’s life for holidays, birthdays, vacations, or special occasions.  

Where is the money and who will have financial responsibilities?  

This is information of importance to future trustees, estate executors, and those individuals who will handle your financial matters in the event of your disability or death.   

The Financial Factors section includes: 

• List of Advisors  
• Financial Information About Parents  
• Life Insurance, Potential Gifts, and Inheritances  
• Financial Information for Child 
• Structured Settlement Income
• Your Financial Values 

Your advisory team.  A well-informed, skilled team of advisors, including all professionals and individuals who assist you in making important financial decisions, is key in helping future caregivers to follow through with your plans.  

• If your advisors do not know one another, you may want them to have a copy of this LOI, or at least this section, as a means of communication and/or introduction.  
• You should also include the assets and income sources you anticipate being available to fund the future care needs of your child.  
• Be sure you have taken the necessary steps to direct these assets into your child’s special needs trust when appropriate.  

Include your values around spending and investing money. Take the time to communicate your values to help your trustee and others with fiscal responsibility.  They need to make important decisions on spending and investing your assets to meet your goals and maintain the lifestyle that you have achieved for your family and for your child. It has become common for individuals to leave an ethical will or legacy letter sharing their stories and communicating their values. Personal and financial situations often change. It is important to review this information regularly with your advisors and make any appropriate changes.  

Do you have properly drafted legal documents in place? 

This section provides information about the legal and estate planning documents that will assist others in the event of your disability or death. 

The Legal Factors section includes:  

• Overview of Estate Distribution  
• Location of Important Documents for Parents  
• Location of Legal Documents Specific to Child  
• Final Arrangements for Child 

 Work with a qualified estate planning attorney, ideally with knowledge and experience working specifically with families of individuals with special needs. 

• When working with your attorney to create your legal documents, you are planning for the ultimate distribution of your estate. During this process, you should be clear in expressing to future trustees, guardians, powers of attorneys, and health care proxies how you want your financial and legal matters to be tended to. The role of the attorney is to place those wishes in writing by utilizing the proper documents. Coordinating your financial resources with these legal documents is critical.  
• Create a checklist of important documents and their location. If your important papers are in your safe deposit box, make certain that the executor of your estate or your power of attorney has proper authorization and access to its contents. If you have a safe in your home, these individuals should also know how to access its contents.  
• It is important to identify the individuals whom you have designated to execute your wishes. They should also have a copy of your LOI to use as a guideline in making important decisions.