“Special Needs Financial Planning” is the way to secure the future for individuals with disabilities through a combination of specialized financial and legal planning.
The main goals of Special Needs Financial Planning can be summed up as:
- Making sure there is a plan to provide for your loved ones with disabilities and to continue their ongoing care and support needs if or when something were to happen to one or all of their parents or guardians, especially if that happens soon than expected.
- Making sure that your loved ones with disabilities, when they are adults, are able to access and qualify for every state and federal government program which they might benefit from and which they would be eligible for.
- Making sure there will be additional resources available for them in their adulthood, especially after all their parents or current guardians are no longer alive or able to help support them.
When done right, this specialized planning allows individuals with disabilities to always be able to benefit from important government and other support programs, while at the same time being able to take full advantage of as much additional resources as their parents or guardians are able to leave for them.
Those additional resources would be used to generate income and to pay for even more care and support that would supplement and go beyond even what the government assistance programs are able to provide.
By doing that, families can make sure all of their loved ones’ essential and discretionary needs are covered so they can enjoy the best and most fulfilling lives possible, the way the family would want to see them live, all with the continuous guidance and oversight of people who care for them and who have their best interests in mind and at heart.
STAY SUBSCRIBED TO OUR NEWSLETTER SO YOU DON'T MISS THE NEXT INSTALLMENT IN THIS SPECIAL NEEDS PLANNING SERIES: "WHY ARE GOVERNMENT BENEFTIS SO IMPORTANT AND WHY DO WE NEED TO INCLUDE THEM IN OUR PLANNING?"
(NOTE: At The Time To Plan Is Now we are aware that the term "special needs" has come under increasing scrutiny over the years. Many families and individuals are clear that, for them, their needs are basic and human and not "special" or different," and as such they would prefer not to use that phrasing to describe themselves or their loved ones. We accept those sentiments and affirm that this terminology is challenging and problematic for all of those reasons and more. However, "Special Needs Planning" is the standard, most commonly accepted and understood term used to describe the type of financial and legal planning that is done to secure the future for an individual with a disability. "Disability Planning" is something else entirely, and we would not want to use that or to start using new phrasing that could otherwise confuse our audience or the general public. We hope everyone understands this decision, and we mean no disrespect or disregard to anyone. Grace and peace - ZZ)