Have you planned for the future of your special needs child? Ensuring your child can live the life you want them to once you’re gone can be accomplished with strategic planning.
You will need to speak with
(A) a lawyer that is knowledgeable in special needs trust,
(B) a CPA for tax education and
(C) a life insurance professional to ensure the funds are available for your special needs child.
There are more considerations that need to be discussed such as other children you want to leave a benefit to, current investments, rental properties, protection for you if you have a serious illness or long term event that would require additional capital and having a policy on your special needs child to take care of the financial expense of their passing.
Having enough life insurance, either term, permanent or preferably some of both, can insure that regardless of when you pass, the funds will be available for your special needs child to continue to live the life you want for them. Annuities can also allow your special needs child to have an income that they can’t outlive and properly structured, won’t affect their other benefits.
There are specialist in the fields of law, tax and financial services to make sure your special needs child is provided for in the future. Let’s get together to discuss your special needs child and review your current plans. If you haven’t started planning yet, isn’t now the best time to do it? The peace of mind you’ll have once you have taken care of this, will far outweigh the small time and financial commitment needed.
There are only a couple of law firms in Tennessee that specializes in special needs and I can put you in touch with them if you are interested.
If you live in outside of Tennessee, let me know and I will be happy to find a specialized law firm in your state.
Please consider passing this on to a family or friend you know that has a special needs child. I would be happy to talk with them and point them in the right direction.