Investment for Disabled Child?

I have a 17 year old disabled child, Dane. He will be semi-independent as an adult - assisted living, sheltered employment. For my other two children, I've created Coverdell education accounts for college expenses. I'd like to create an investment account for Dane as well, but he will not likely need educational benefits. He said that he might go to a cooking school, but then again, maybe not. I'd like to maintain control of the account but yet have him on the account as well. The funds don't need to be immediately accessible - I want to save for future expenses that we don't know about now. Any ideas?

You need to go to a knowledgeable attorney that specializes in this area and go to a trust department to see if they will take your account. They will almost certainly not take a small account due to their fee structure, but they will take it contingent upon your death. In the mean time, you can serve as the trustee. Certain benefits are contingent upon lack of assets, you need to make sure you do not cause a denial of benefits. There isn't a do it yourself type account, like a Coverdale, for someone in your position.

A simple trust account should do. You have authoritive control but he also decides where the money goes.

Give MENCAP a ring or go on their website.

Do not go to any financial adviser until you have spoken to them.
Too much in savings and he could lose benefits.