The greatest concern for parents of a child with special needs is not knowing what will happen when they are no longer able to care for the child because of their own health issues or, more critically, after their deaths. While there may be an abundance of love in the family, there may not be adequate financial assets to maintain the lifestyle that the parents desire for their child. Even for families with
significant assets now, the future is unknown and special needs may last the child’s lifetime. As parents grow older, their own aging and health care issues may consume a greater portion of their assets than anticipated, thus impacting the
care that can be provided to the child.
Although public assistance programs such as Social Security and Medicaid are designed to provide only some very basic medical care and possibly shelter for disabled persons, these programs are often needs based and never provide more than the basics. They do not provide the child the “pleasures of life,” such as vacations, recreation, education, job training, rehabilitation, computer equipment,
transportation, and so forth. Those items and others must all be funded from other sources, and those funds may be more difficult to obtain as parents grow older.
It is important to carefully consider all options that are available and ensure that they are used wisely. Lifetime planning with our referred legal advisor
is critical. The family must know that what public assistance is available now may not be nearly the same when needed. Retirement, disability or the deaths of those providing the funding will likely disrupt the lifestyle of the child. Unfortunately, the parents’ ability to provide funding later in life is generally
reduced.
Our, properly structured, insured products can provide the piece of mind parents of a child with special needs desire. Upon request, along with some of your basic family data, we will prepare an illustration of a plan to provide for your child, that includes an exit strategy should the circumstances arise.
significant assets now, the future is unknown and special needs may last the child’s lifetime. As parents grow older, their own aging and health care issues may consume a greater portion of their assets than anticipated, thus impacting the
care that can be provided to the child.
Although public assistance programs such as Social Security and Medicaid are designed to provide only some very basic medical care and possibly shelter for disabled persons, these programs are often needs based and never provide more than the basics. They do not provide the child the “pleasures of life,” such as vacations, recreation, education, job training, rehabilitation, computer equipment,
transportation, and so forth. Those items and others must all be funded from other sources, and those funds may be more difficult to obtain as parents grow older.
It is important to carefully consider all options that are available and ensure that they are used wisely. Lifetime planning with our referred legal advisor
is critical. The family must know that what public assistance is available now may not be nearly the same when needed. Retirement, disability or the deaths of those providing the funding will likely disrupt the lifestyle of the child. Unfortunately, the parents’ ability to provide funding later in life is generally
reduced.
Our, properly structured, insured products can provide the piece of mind parents of a child with special needs desire. Upon request, along with some of your basic family data, we will prepare an illustration of a plan to provide for your child, that includes an exit strategy should the circumstances arise.