Families with Special Needs

Starting today’s journey with a solid plan and staying adaptable for any unexpected changes.

Caring for a family member or friend with a disability or special needs can be worrisome, costly and difficult to navigate without expert help and a plan. Whether due to an accident or mental disability, a special needs trust can help you better manage caring for that individual in a way that enriches his or her life while not jeopardizing benefits that can be a significant source of income and health insurance.

Special Needs Planning is planning for two generations; encompassing both your and your child's lifetime(s). Our approach is to break the planning process into three sequential components and then integrate these to form your Comprehensive Special Needs Financial Plan.

1. PLANNING FOR PARENTS' FINANCIAL STABILITY
Allocating your personal resources to meet your needs and save toward your goals.

2. SPECIAL NEEDS PLANNING FOR YOUR CHILD
Maximizing personal resources and leveraging government benefits to provide for your child.

3. WHO CAN STEP IN TO A PARENT'S SHOES
Building a team to support your child when you can no longer provide the on-going care they need.

What is a Special Needs Trust (SNT):

A special needs trust is designed, in part, to preserve and supplement a beneficiary’s needs-based government benefits while benefiting from and enjoying trust assets to further enrich their lives. We think everyone seeking to provide for a loved one with a disability or special needs deserves a professional team committed to serving a beneficiary’s best interests.

A Special Needs Trust (SNT) can be established by families who are the primary providers of a child with disabilities, with the goal of improving the quality of the child's life and providing peace of mind for the future. This type of trust manages trust assets while also maintaining a disabled person's eligibility for government programs. Therefore, they can receive existing government benefits and assets set aside in the trust for additional expenses.

The SNT does not belong to the person with special needs, rather, it is established by a family member and administered by a trustee. The person with special needs is the beneficiary of the trust and is usually the only one who receives the benefits. Furthermore, the trustee is given the discretion to determine when and how much the child should receive.

An SNT is typically appropriate for parents, grandparents or other family members that:

  • Care for a child with a disability who will have to face life without their financial help
  • Have a child with a disability who will never be capable of managing significant assets
  • Want to provide a legacy, but who are afraid that leaving too much money to their disabled child will interrupt government benefits
  • Want to ensure that their child with a disability has more than just the basics provided through government benefits