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Financial planning is important for everyone, but those with a special needs child or dependent have a few special considerations. It's even more important to think ahead to the future and consider who will take care of the child when you're gone, how can you ensure that they remain eligible for government benefits, and how much money you need to save. Because of the unique situation, there are many legal devices to help you plan for you and your child's future. Learn more about financial planning considerations with a special needs child.

January 19, 2009 at 9:32 pm
(1) Chrissy says:

I’m sure Terrell Dougan had to think about this. I just read her book, her memoir called “That Went Well.” Terrell was a caregiver , to her sister with special needs.

Its about a family choosing not only to keep their little girl with special needs at home, but to rally the community and the state to act on behalf of all children with special needs.

July 6, 2010 at 2:48 pm
(2) Jon Singer says:

Financial planning for children with special needs is critically important and so many families put off doing anything about it until it is too late.

Here is an excerpt from my soon to be published book, The Special Needs Parent Handbook:

“While you may be living from paycheck to paycheck, it is important to figure out how to put aside money for the future and for unexpected expenses. Plan for the long term to the best of your abilities, even though some days it is hard to see past tomorrow.

Look for a financial planner, ideally one who works with families with children with special needs, to help you with your finances. If you have a friend or family member who is an accountant or financial planner, ask for their help.

A financial planner can help you figure out what your significant other and your children would need to cover living expenses if you were no longer around. Find out the cost of life insurance and buy term insurance as soon as possible because it is least expensive when you are young and healthy.

If your employer has a 401(k) plan, make sure you contribute something, especially if your company matches your contributions. That is free money that should not be passed up even if it seems like a small amount. It all adds up over time and everything helps.”

For more helpful information and free excerpts, go to:

Jon Singer
The Drive for Rebecca

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