Wednesday, June 29, 2016
Jennifer M. Kirby-McLemore recently published an Article entitled, What Are Aging Parents Caring for Adult Children with Disabilities To Do?: A Comprehensive Framework for a Healthy, Stable, Financially Sound Future, 21 Roger Williams U. L. Rev. 45 (2016). Provided below is an introduction of the Article:
Part I of this Article provides the social and cultural backdrop that created the need for parental guidance concerning the care of adult children with disabilities. Part II introduces the importance of proper planning for adult children with disabilities as well as the key elements for every future care plan. The bulk of this Article is divided into hypothetical situations that would require parents to develop a comprehensive future care plan for their child. These hypotheticals will discuss the various elements included in those plans. Depending on the particular situation, these elements will include: ensuring eligibility for government benefits; establishing an adequate estate plan that contemplates asset distribution and guardianship appointment; and considering alternative options such as purchasing life insurance or gifting the adult child's inheritance to a future caretaker.
The hypothetical in Part III will center on those parents who are financially limited, and caring for a dependent adult child with a disability. Part IV will provide a plan for similarly situated middle class parents, while Part V will detail a plan for a well-to-do family with a partially self-sufficient adult child with a disability. Parents should note that these hypotheticals are meant to be illustrative and therefore do not exhaust all of the possible situations in which they may find themselves. Part VI augments the hypotheticals with a description of additional options that families with moderate to significant resources can use to substitute or supplement some elements of a Future Care Plan.