What is the Best Financial Advice You would Give to a Family with a Child with Special Needs?
by
PSN Team 
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The most important step
The most important step is having a serious conversation about what your plans are for your child’s future. You need to think about this future in a couple different ways. What do you want for your child “if” something happens while they are growing up. We also need to consider what you want for your child “when” something happens, most likely far into the future.
From there, we need to consider what planning tools and benefits are available. Special needs trusts only work as well as they are funded. There are multiple ways to find these trusts. Using retirement plans, life insurance and having other family members and friends are options for this.
The purpose of financial planning is to utilize all of these options to find the most efficient plan that meets your goals now, and in the future.
This Tip is Courtesy Jeffrey S. Light, ChSNC™️
Financial Adviser with Eagle Strategies, LLC
Another point of view:
I do not have a best financial advice as every exceptional individual is unique and thus their needs differ. I believe that the most impactful task that will ensure continuity would be to create your letter of Intent which is a letter of love to your child and for those who will be entrusted with his and her care. The goal of this document is to memorialize your knowledge of your child’s needs to help guide future caregivers, guardians, trustees, and courts in understanding your hopes and dreams for your child.
This tip courtesy of Joseph M. Mersol, MSFS, CLU®, ChFC®, CASL®,
CAP®, AEP®, RICP®, ChSNC® Registered Investment Adviser Joseph
Mersol Financial Solutions, LLC
Here is a Free “Letter of Intent” PDF for you to Download
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Financial Planning: For Those Who Are at the Starting Line
Special Needs Financial Planning During COVID
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