As life-long primary care-givers start to grapple with the question, “Who will care for my child when I’m gone?,” they should consider inventive alternatives to the traditional institutionalization process.
One such alternative is the increasingly popular use of so-called “microboards.” A microboard is a practical application of business law to create a customized support structure for a special needs person.
Though there are differences in the way microboards are applied based on varying state laws, the fundamental concept is simply a small (hence “micro”) group of committed family and friends who know and care about the special needs person, and who join together with that special needs person to create and operate as a business entity for the benefit of the special needs individual. Together, as a formally organized and registered business, this small group (the “board”) addresses the special needs person’s lifetime and lifestyle support issues.
The model is focused on a person-centered planning philosophy, and a microboard therefore is usually created for the support of only one person. Common elements of the microboard model include:
- Business entity formation (selection and creation of a business entity, including registration with the State Corporation Commission)
- Creation of a business plan for the entity and a support plan for the individual,
- Identification and request funds for services, identification and negotiation for services
- Maintenance and monitoring those services
- Serving as sponsors to the community ensuring the person participates in community activities to the extent possible, all focused towards the special needs person’s capacity for self-determination and that person’s safety, dignity, and well-being.
If you are the legal guardian of a special needs individual and are concerned about the future, consider all of the options you have in front of you, including the construction of a microboard for that individual. The estate planning and business law experts at Virginia Beach Law Group are well-versed in the complexities of microboard planning and are ready to help you make these important decisions. Call us today at 757-486-4529 for more information.