Special Needs Planning.
"An accident or diagnosis of special needs does not mean an unfulfilling life for the child, quite the contrary, and we have the experience to assist bringing fulfillment and a more certain future to your child’s life in ways beyond just wealth management."
When our children grow into adults, they’re expected to assume responsibility for themselves. But some children have special needs beyond the usual love and care that parents provide. What about those who can’t provide for themselves because of a physical, mental or emotional impairment? That child could be a victim of an accident who now depends continuously on you for meals, transportation, and personal care; a child born with a severe medical condition who, without you, could not get through the day; or a child with some other debilitating condition or illness.
How do you address meeting those needs? How do you plan for a special needs child? As you think about responses to these questions, a million additional questions probably race through your mind, along with a mental checklist of things to be concerned about. Financial security for a special needs child is a foremost concern for parents. Without proper planning, when a parent dies or becomes disabled, the question of paying for the continuing care of the child will typically fall on the remaining family members who may be unprepared, either emotionally or financially, and sometimes both.
Special needs planning is a subset of estate planning, and in the special needs context it simply means organizing your estate, whatever its size, to meet the needs of the entire family as efficiently and economically as possible, knowing that special considerations are needed for a particular family member. There are a number of strategies that can be used, the selection of which will depend on many issues, including the actual financial condition of your family, the condition causing the special need, the level of care needed, and the extent of reliance on government and charitable assistance.
The task of preparing for a special needs child can be daunting, but you don’t have to do it alone. Having personal experience being members of special needs families, we know exactly what you’re going through. We’re here to be your safe harbor—an accident or diagnosis of special needs does not mean an unfulfilling life for the child, quite the contrary, and we have the experience to assist bringing fulfillment and a more certain future to your child’s life in ways beyond just wealth management.