The SpecialMoms Parenting Magazine Issue 5 | Page 34

Talk Is Cheap
and Ensures the
Best Financial Strategy
for Your Family
Communication is
Essential
To ensure the best possible outcome when planning the financial future of your loved ones, strive
for open and honest conversations with family
members and the professionals whose guidance you
seek. Be sure everyone on your strategy team—your
financial services professional, your attorney, and
others— has all the facts. Without such communication, mistakes are likely to occur in your financial
strategy. As time passes, situations change, so keep
the conversations going.

Put These Strategy Tools Up for
Discussion
When developing a strategy to ensure the overall
well-being of a person with special needs, certain
tools (such as those described below) may be used.
Ensure that everyone knows the strategy, how it
works, and the role he or she plays.

Wills, Policies, and Investments with
Named Beneficiaries
Many parents with wills bequeath their assets “to
all my children equally.” It may seem the easiest and
fairest option, but if one of the children has special
needs, that directive could hand down trouble. Having personal assets in excess of $20,001 will disquali-

fac X