It is natural to worry about how your loved ones will cope financially and emotionally after you are gone, more so if they are vulnerable and dependent on you.
Fortunately, only a small number of young children find themselves orphaned, but what if your child will remain dependent on you well into adulthood?
Arguably, gone are the days when any child flees the nest at 18 for further education or work never to return to the family home as a dependant again.
But ignoring that modern day phenomenon, the reality facing parents with a vulnerable child, whether through physical disability, mental disability or both, is that they need to think carefully who will fill their parental shoes after they die or become incapacitated, and how their child’s physical, emotional, and financial needs will be met.
Putting off discussions about dying explains why so many adults in the UK do not currently have a will, and planning is often delayed until we have a sense of our own mortality, usually as we advance in age or become ill.
But for parents with a vulnerable child, the fear for their child’s future is strong from the early years. It is not just a case of ensuring they are financially secure, more fundamental is who will look after them and what will they be entitled to in terms of state-funded benefits.
While some vulnerable adults can work and lead fulfilling lives with the right support network, many may never be able to work and look after themselves and will be entitled to state benefits, such as disability living allowance for under 16s and personal independence payment for over 16s.
Some benefits are means tested based on their financial position, and others are awarded based on physical and mental disability and needs.
Citizens Advice has excellent website resources and advice on claiming these and other tied benefits.
The effect of an inheritance on means-tested benefits can pose a dilemma for parents deciding how to plan.
There is little point leaving assets to a child who may not be able to manage their own finances and will result in loss of entitlement to means-tested benefits.
After all, the welfare state was introduced to protect the most vulnerable in society, whether through financial hardship, disability, and old age, and they should surely avail themselves of that support.
The early years is arguably the easiest stage to secure help.
After all, you are likely to be young, full of energy and feel your demise is decades away.
And more crucially, you and your child will have the support of the school, special education needs co-ordinators, social services, primary medical services and possibly a local charity specialising in supporting families with children with special needs.
You may also be fortunate to have supportive family and friends taking an active part in your child’s happiness and wellbeing.
