Broker Check

SPECIAL NEEDS RETIREMENT PLANNING

Retirement—Planning for Two Generations

Everyone dreams of enjoying a long and peaceful retirement, which often includes leaving a legacy behind for your children. But if you are the parent of a special needs child—particularly a child who will need life-long care—you may be wondering how and when it will be possible, and what you need to do to achieve any sort of confidence in retirement.

Retirement planning is fundamentally different for special needs families, and involves balancing complex considerations for two generations. While planning for your own retirement, you may also need to balance how to leave a legacy for your neurotypical children while ensuring long-term care and support of your child with special needs.

I am here to say it is possible! I can help to guide you by explaining the various tools and options available to you, and strategize the best bath forward for you and your family.

Retirement Planning Considerations

  • Special Needs Trust

    A Specials Needs Trust provides the strongest protections of your money for the benefit of your child’s future needs without disqualifying them from basic government benefits like SSI and Medicaid.

  • Life Insurance

    Life insurance is the best tool for funding a Special Needs Trust.  Not all life insurance policies are adequate for the Special Needs Family.  Do you have the right type and coverage amount?

  • ABLE Accounts

    ABLE accounts are tax-advantage savings and investment accounts designed to shelter money from SSI eligibility rules.  ABLE accounts are great for your child’s money, but not appropriate for your money.  Certain limitations apply to these accounts.

  • Retirement Savings

    In order to fund your retirement plan, it is important to follow a long-term plan for building your nest egg. Thoughtful planning can provide strategies to help you pursue your long-term goals.

  • Government Benefits

    What government benefits might be available, and how can you preserve your child’s eligibility?  While eligibility for benefits are not guaranteed (and in today’s political environment, continuity of benefits may decline), they are a crucial component of financial support and can pay for things like supported/assisted living needs for outside or in-home care, job coaching, respite care for the parents, etc.

  • Estate Planning Coordination

    Estate planning for the family with special needs involves the coordination of your estate wishes with your child’s Special Needs Trust.  It may also include Powers of Attorney or guardianship.  We can provide guidance on picking a qualified special needs attorney to help you through this very important process.


When Should You Start Planning for Retirement?

The stronger the plan is for your own retirement, the more you can provide for your children’s future. The sooner you begin, the better—but it is never too late! To get started, you can learn more about my special needs financial planning services here, or click the link below to schedule an initial consultation.

Schedule Consultation

Professional Affiliations

LET'S GET STARTED
Schedule a Consultation

How can we help you? The first step is scheduling a brief consultation so the we can better understand you questions, concerns, goals and how we can partner together.

Schedule a Consulation