What Should You Expect From Your Special Needs Planner?

What Should You Expect From Your Special Needs Planner?

For the parents of children with disabilities and varying special needs, the significance of quality holistic estate and financial planning is far more important than simply focusing on tax and investment planning alone. Young and adult-age children alike with disabilities are often not able to adequately care for themselves. Their future self-actualization and quality of life depend largely on their parents’ capabilities and desire to create a plan in conjunction and harmony with keeping government benefits available.

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Disability Integration Act: Independence For Those With Disabilities

Individuals with disabilities will potentially have a clear legal right to obtain services within the community instead of in an institution under new legislation supported by a bipartisan collection of representatives and senators. Introduced on January 15, this legislation would if passed, be the most extensive civil rights bill for those with disabilities in decades.

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Minimizing Income Taxes with IRA Distributions to Special Needs Trusts

It’s common practice for parents to hold their savings in some type of retirement account, often an
Individual  Retirement Account (IRA) At age 70 1/2 he or she must take mandatory distributions from the IRA, or what is called the Required Beginning Date. These payments and are known as Required Minimum Distributions and are calculated and determined by the government.

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Special Needs and Housing: How You Pay Can Affect SSI Benefits

Likely the most weighted factor used in determining whether SSI recipients will qualify for the maximum benefit is their housing arrangement. Individuals living by themselves who pay their rental expenses, inclusive of utilities, are eligible for the maximum monthly SSI benefit. (This is with the assumption that they fulfill all other criteria to receive the maximum.)

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8 Unique Financial Planning Concerns for Families with Special Needs


It’s one of our most precious commodities, isn’t it? When you’re a parent of a child with special needs, chances are the last thing you have time to do is spend your time researching the right financial decisions to make. Your time is spent tackling the day-to-day commitments of life, work, and home. However, taking the time now to plan for your child’s future can prevent future hurdles that can arise from being ill-prepared.

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How To Set Up A Special Needs Trust For Your Child

Are you in the midst of financial planning with your child’s needs in mind? Here, you’ll find out how to set up a special needs trust for your child.

If you have a child or family member with special needs, you want to help ensure that a plan is in place for their future.

But for many families, helping a disabled loved one thrive is a difficult undertaking with a great deal of worry.

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Practical Tips for the Grandparent of a Child with Special Needs

(Autism Asperger’s Digest, February 2018: Page 30-31.)

There are many uncertainties for the parents of children that have special needs. My wife and I are keenly aware of this as we raise our 2 wonderful boys who are both diagnosed with autism spectrum disorder. Every day is full of questions.

Are we doing the right things for our child? How will we make it through the day to day responsibilities? What does the future hold for our child and our family?

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It’s National Financial Planning Month: Time for an Investment Plan

October is National Financial Planning Month.

It’s also National Chili month.

While the brisk autumn football game staple surely deserves recognition (self-proclaimed connoisseur here), I would argue that putting a focus on your financial situation and creating a solid investment plan is a pretty worthy cause too. There’s nothing magic or wizardly about October as it relates to financial planning, but it’s as good a time as any, right? What is significant about it is that it’s now.

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Who is Driving the Boat? Sean and Alaina: A Special Needs Plan

I love the water.

The ocean waves and quiet fishing on the bay. My wife and I moved our family from the bustle of a larger city to a less grid locked city near the beach when our two boys were still in their early elementary school years. We love the feel of a small beach town where everyone is a neighbor, and people don’t hesitate to lend a helping hand. We felt like this would be better for our boys than the high intensity, rapid pulse of a big city.

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Legal Considerations of Special Needs Planning

Why do I need an Estate Plan?

What is an estate? An estate is basically everything someone owns. This includes business holdings, personal possessions, financial assets, real estate, insurance policies, and more. The reason we need an estate plan is 

so we can protect and maneuver our assets and have the ability to successfully transfer these assets to others as we wish during our lifetime or after our death.

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Help Your Kids Develop a Healthy Relationship with Money

How did you learn about money—I mean really learn? For most of us, our first dose of reality comes when we begin providing for ourselves. This once magical resource, which was always shrouded in a bit of mystery and sprinkled with fairy dust, suddenly morphs into a concrete brick that knocks us in the head and introduces us to its true reality.

Money is like a brick. A brick is just a brick—it can be used to build or it can be destructive. It all depends on who holds it.

Building Good Money Habits

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Guardianship and Alternatives: Exploring the Options

Once a person reaches the age of 18, they are guaranteed certain civil rights under state and federal law. These rights cannot be taken away by parents, support coordinators or social workers. It’s an exciting time for some people with a disability as they gain the opportunity to explore their independence.

However, not every person
who reaches the age of majority will have the mental capabilities to make decisions that are in their best interests. While many parents of children with special needs will consider guardianship first to take care of their child, there are alternatives worth exploring before taking such a major leap.

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ABLE Accounts: Filling the Gap in Special Needs Planning

After many conversations with parents of children with special needs, I’ve come to find that many of my clients have one overarching concern: how to set aside money for the future needs of their children.

Prior to the passage of the Achieving a Better Life Experience Act (or ABLE, as it
is more commonly known), families had no significant tax benefits to save for things such as therapy or assisted living. To complicate matters, individuals with severe disabilities were limited to a maximum of $2,000 in liquid assets before they were deemed ineligible to receive government benefits.

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The Special Needs Letter of Intent (LOI)

As a parent, seeing your child grow up and come into their own naturally brings about a flood of emotions. There’s pride for how much they’ve grown and learned, optimism for future potential, and a healthy dose of fear for the uncertainty of what the future may hold. While the pride and optimism may remain

the same if you’re the parent of a child with special needs, there’s no doubt that you carry a considerable amount of trepidation in considering your child’s future.

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