FINANCIAL PLANNING
Parents have additional health care needs them-
selves that must be considered.
I am sure you can think of even more.
Not only does family life move fast and change come
swiftly, but so does the macro-landscape. It is the
changes in the macro-landscape that families must
keep abreast of because it is these changes that many
times will require a change to the individual family
plan. For example, there have been significant adjust-
ments in choices in the past three years when it comes
to planning for the future as well as others that contin-
ue to be discussed:
benefits so that your loved one’s plan and life-
time support needs are still provided for even if
government benefits and services are reduced.
When the pace of change is considered, it is critical that
families stay on top of these changes or secure a team
of specializing professionals that they rely on to keep
them informed and keep their plan up to date.
ABLE accounts are now available as savings tools
for individuals with disabilities. These accounts
also come with certain rules that need to be un-
derstood so that families are not surprised at a
later date, and so that these accounts are used
properly without making mistakes.
The Defense Authorization Act now allows a ben-
eficiary of a military pension to be a specific type
of Special Needs Trust so that the child of a career
US military professional can continue to receive
the Survivor pension into this specific Special
Needs Trust without negatively impacting his/
her qualification for other government benefits.
Under a law passed at the end of 2016, an indi-
vidual under the age of 65 with a disability under
can create his/her own Special Needs Trust. Previ-
ously, Special Needs Trusts could only be created
by a parent, grandparent, legal guardian, or the
court. This again allows additional flexibility, es-
pecially if an adult with a disability who is his/her
own guardian receives an inheritance that would
cause them to lose his/her necessary govern-
ment benefits. Now he/she has an option to cre-
ate his/her own Special Needs Trust, transfer the
inheritance to the Special Needs Trust, and save
his/her life-supporting government benefits.
HealthCare reform has not been resolved. The
discussions continue to include cuts to Medic-
aid and services to those with disabilities, which
would mean major changes to the planning
for your loved one. With that in mind, planning
should now consider changes to government
For more information on how to prepare for the fu-
ture, be sure to contact a financial advisor who spe-
cializes in serving families with special needs. A Spe-
cial Needs Plan is driven by what is called Unleash
L.I.F.E.™—Lasting Independence For Everyone™. This
is accomplished with education, action, and support
in the creation, implementation, and continued mon-
itoring of a specifically designed lifelong and integrat-
ed plan for your family of parents, caregivers, your
loved one with special needs, and his/her siblings.
101 N. McDowell Street, Suite 120
Charlotte, NC 28204
704-326-7910
http://www.aspecialneedsplan.com
Ryan F. Platt MBA, ChFC, ChSNC is a registered repre-
sentative of and offers securities, investment advisory,
and financial planning through MML Investors Ser-
vices, LLC, member SIPC. A Special Needs Plan is not
subsidiary or affiliate of MML Investors Services, LLC,
or its affiliated companies. This article is not a recom-
mendation or endorsement of any products.
Autism Parenting Magazine | Issue 68 |
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