Planning for Children

Compare special needs trusts and ABLE accounts in New Jersey, including eligibility, benefits, spending rules, and how families can use both.

When a child or grandchild has a disability, planning often requires additional consideration. A direct inheritance could affect eligibility for needs-based government programs, and the person managing the inheritance may also need guidance about the beneficiary’s care, routines, preferences, and long-term needs.

No parent wants to imagine a future in which they are no longer there to raise their children. But deciding who should care for your children if something happens to you is one of the most important parts of estate planning for parents.

Welcoming a new child into your family changes everything. Along with choosing a pediatrician, setting up a nursery, and planning for your child's future, it's also a good time to think about protecting your family through estate planning.

Once a child turns 18, they are legally considered an adult. Parents no longer have the automatic authority to access medical information, make healthcare decisions, manage finances, or communicate with educational institutions on their behalf.

Many parents in Bergen County and throughout Northern New Jersey create trusts for their children early in life as part of a broader estate plan. But just like children grow and change over time, the trust created for them should evolve as well.