Planning

• Financial Planning
  Financial planning is based on individual values and directed toward the achievement of important goals. Financial planning and continued financial management can create a better quality of life for you, your family and your special needs loved one. In the case of special needs financial planning, the focus is to create the best possible life for the individual with special needs while taking into consideration the needs and goals of the entire family. The financial plan for an individual with special needs will address how to pay for private resources while maintaining eligibility for government assistance. Like the traditional approach, a special needs financial plan should be comprehensive in nature and include the standard financial planning considerations of investments/cash flow, legal, taxes, and risk management. But a special needs plan should also include a Special Needs Trust and Letter of Intent which is the starting point of special needs planning.
• Retirement Planning
• Long Term Care
  An insurance safety net is important to secure a financial future. Families with little savings need insurance to protect their financial security especially if one of the family members is a special needs individual. The primary goal of Insurance Needs Analysis is to make sure there is enough money to support the family in the case of death, disability or illness. In addition, assets or insurance is purchased to fund a Special Needs Trust for the individual with special needs. A critical question in this analysis is answering the question of who will take care of the caretaker in the case of disability or old age. A family must consider, how much life insurance is needed to supplement income lost due to the death of a spouse; are spouses covered by disability insurance in case of their own disability; is there long term care in place; how much and what type of insurance do we need to fund a Special Needs Trust. If this type of planning is not done, families could potentially see their assets depleted in areas that were not planned and funding earmarked for the Special Needs Trust are no longer available. Insurance Needs Analysis is one way to cover the basics to ensure the quality of life for the family and the individual with special needs. At Special Planning we can direct you to experts that can perform an Insurance Needs Analysis and make recommendations to secure your financial future.
• Asset Management