The SpecialMoms Parenting Magazine Issue 5 | Page 35

power of attorney. Financial services professionals and attorneys who focus on helping people with special
needs can explain the purpose of each document. Generally speaking, a person is named to manage, or help
manage, the medical, legal, or financial care for a person with special needs. Each document is precisely written
and bound by state law, so out-of-state moves may require rewriting or amending the document.
To carry out these directives, choose individuals with the maturity, temperament, patience, and willingness
to be an advocate for your loved one, and who are willing to be involved in the community of people with
special needs. Involve the individuals you’re considering in discussions with the family and with your financial
services professional and attorney. They’ll understand their responsibilities, and you’ll know if you’re making
the right choice.

Letters of Intent
A letter of intent, sometimes called a life care plan, is a document that provides detailed information about
your family member to give to a future caregiver. Favorite foods, best friends, likes and dislikes, behavioral habits, as well as medical and financial information can be included. The more detailed, the more value it will have
for the caregiver. It isn’t legally binding, but those who settle your estate will review it along with your will and
other legal documents to ensure your wishes are carried out.

Keep the Talk Going
Regularly scheduled family meetings will help you all stay aware
of each other’s needs. Who’s feeling overburdened? Who’s feeling
overlooked? Who may no longer be able to take on future family
obligations as planned? Time begets change, so keep communicating. Laws, the development of a child with special needs,
dreams and goals of all family members, even the family itself
will change over time, so your financial strategy should be reviewed at least annually.
1 Understanding Supplemental Security Income SSI, General Information, 2013
Edition, US Social Security Administration http://www.socialsecurity.gov/ssi
The information provided is not written or intended as specific tax or legal advice
and may not be relied on for the purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice.
Individuals are encouraged to seek advice from their own tax or legal counsel.
(1)The Chartered Special Needs Consultant (ChSNC®) - a professional designation awarded to those individuals who’ve completed 120 hours of academic classes in addition to holding either Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC) or
Certified Financial Planner (CFP) designations and previously completing the Special Care
Planner certification program. The ChSNC designation was developed by The American
College in Bryn Mawr, Pennsylvania. The certification program and the professional designation evolved from MassMutual’s SpecialCare(SM) Program.
© 2013 Massachusetts Mutual Life Insurance Company 01111-0001 |
SC3112 | CRN201507-173947
Provided by David Ramirez, CFP, CLU, ChFC, ChSNC with GPA
Financial Group courtesy of Massachusetts Mutual Life Insurance
Company

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