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

Out-of-State Trusts: What They Are and How They Can Support Long-Term Wealth Planning

Learn how out-of-state trusts work, their potential benefits, and key considerations for business owners and families seeking tax efficiency, asset protection, and legacy planning. Out-of-State Trusts: A Strategic Tool for Modern Wealth Planning For business owners, executives, and multigenerational families, managing wealth across ...

<p>The post Out-of-State Trusts: What They Are and How They Can Support Long-Term Wealth Planning first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families

Learn how to identify, avoid, and respond to financial scams with practical strategies designed to protect your wealth and personal information. How to Protect Yourself from Financial Scams: A Practical Guide Financial scams are becoming increasingly sophisticated, targeting individuals and families across all income levels. Whether through phone calls, emails, social media, or even trusted-looking websites, bad actors are constantly ...

<p>The post How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider

Learn how W-2 employees may be able to reduce their tax burden through strategic planning, tax-advantaged accounts, and thoughtful financial decisions. Can W-2 Employees Reduce Their Tax Burden? For many professionals, earning income as a W-2 employee can feel limiting from a tax-planning perspective. Unlike business ...

<p>The post Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>