March 27, 2018

Many people might assume that they don’t need the benefits of estate planning and will therefore, put off this process entirely. However, more and more people are in need of advanced planning strategies and finding themselves in a crisis situation, such as when a loved one who handled all of the finances passes away or when someone becomes incapacitated suddenly can be overwhelming. Advanced planning considerations are especially true for those families who have children with special needs. 

Children with varying types of disabilities, including autism, will likely need a parent’s financial assistance over the course of their entire lives. Finding the appropriate wealth management planner is extremely important. One in forty children between the ages of three and seventeen in the United States will be diagnosed with autism spectrum disorder and autism, according to research from the National Health Interview Survey. This disorder first became included in tracking in the early 2000s by the CDC. The condition is a very complex one but one that requires advanced planning considerations. Research shows that it can cost $17000 or more each year to care for a child who has autism than it does for a child without the disorder.

For those children with severe autism, the expenses increase. When a family member first comes to see a financial advisor, they can be overwhelmed by all of the different options. A financial professional and estate planning attorney can help to alleviate some of the burden by ensuring that appropriate planning channels have been put in place.