What happens when, no longer able to be the caregiver?

I have been caring for my schizoaffective adult son since 2013, he’s been ill much longer than that. I’m in my 70’s and would like to explore possibilities for him before I move to assisted living. Other than homelessness, what is realistic?

Welcome Retired. I’m in the same boat – older parent of a child with schizophrenia. One part of it is the financial part, which I think is a Special Needs Trust, which I haven’t set up yet. The parent’s assets get rolled into that upon their death.

Another part would be housing. Where are they going to live? Most likely something smaller and more easily maintained than the family home. That too should most likely be set up before one gets too old.

I think a third part is life-skills training. One might think about what your child would need to know if it isn’t being done for them and start training them how to do these things.

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Thank you. Very insightful. I am unsure how to set up a trust from my annuity, but I will inquire.
However, he will need to acquire housing. I was hoping this forum might have some insight into agencies, processes, etc., available.

Google on “Planned Lifetime Assistance Network” (insert your state)

The one for Minnesota says

Planned Lifetime Assistance Network (PLAN) programs were developed to meet the needs of families who are actively planning for the future of an adult child with a disability. The mission of these independent, not-for-profit programs is to help families develop a future-care plan, establish the resources for payment, and identify the person(s) or program(s) responsible for carrying out the plan. Most PLAN programs also provide current services that relieve parents of part of the daily burden of care. Currently, throughout the country, there are 22 PLAN programs in operation serving approximately 4,000 families. There are four programs in the development stage. These programs comprise the National PLAN Alliance, a service component of NAMI.

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This article published by Forbes may be useful. It really hits home about how retirement planning and planning for a disabled child’s future are interconnected.

How Having A Child With Special Needs Impacts Your Retirement Planning

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Hi retired-
This is a repeating question among us caregivers. I know it is one of my biggest worries as well.
You may want to check out this thread: