Planning Ahead for the Special Needs Child

October 26, 2015

 Being the parent of a child with special needs requires careful planning and consideration of the child’s future. It’s important to know many children with special needs often live full lifespans. Knowing that you are likely to precede your child in death is a good opportunity to plan ahead and set up a structure to help support them well into the future.

One way that parents can do this is by being an advocate for the child’s education. This is a mandated right until age 21. As a parent you have the opportunity to help secure and monitor all available services with regard to education for your child. In addition to focusing on all educational opportunities available for your child, make sure that you create a life care plan that addresses housing, financial and medical needs. One way to do this is through the creation of a special needs trust.

Additionally, you may want to consider the possibility of appointing a guardian to help the child manage assets within a trust or other structure. If the child’s capabilities permit it, the child could also be involved in authorizing an agent to assist with the process of planning for a financial future. If necessary, life insurance can be a good supplement to help you. Finally, create a letter of intent that conveys all of your aspirations for the child so that a future guardian or healthcare assistant can understand your perspective.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Succession Planning Checklist for Business Owners and Families

Discover a practical succession planning checklist designed to help business owners and families prepare for leadership transitions, preserve legacy goals, and support long-term continuity. For many business owners and families, succession planning is one of the most important — and often most delayed — aspects of long-term planning. ...

<p>The post Succession Planning Checklist for Business Owners and Families first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Irrevocable Life Insurance Trusts: A Strategic Tool for Legacy and Estate Planning

Learn how irrevocable life insurance trusts (ILITs) can help families manage estate planning goals, provide liquidity, and support multigenerational wealth transfer strategies. For families focused on preserving wealth across generations, estate planning often involves more than drafting a will or updating ...

<p>The post Irrevocable Life Insurance Trusts: A Strategic Tool for Legacy and Estate Planning first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

The Hidden Cost of a Disjointed Financial Portfolio

Many families and business owners unknowingly create financial inefficiencies by spreading investments and insurance across multiple advisors and institutions. Learn why coordinated financial oversight matters. Successful business owners and high-net-worth families often accumulate financial accounts over time. A retirement account here. A brokerage relationship there. ...

<p>The post The Hidden Cost of a Disjointed Financial Portfolio first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>