The purpose of special needs planning is to create the best possible life for an adult with a disability. This book provides comprehensive guidance on creating a life plan to transition a special needs child to independence or to ensure they are well cared for in the future.
Beginning with a vision of a meaningful life for the child, Hal Wright explains how to form a practical plan to reach these goals, how to mentor personal empowerment and task skills, and how to create circles of support to sustain a life plan. He next looks at employment and residential options, and government programs available in the United States. Finally he talks the reader through important financial and legal considerations, including how to fund and manage a special needs trust.
This book will be essential reading for all parents or guardians of a child with a cognitive, mental or physical impairment. It will also be of interest to attorneys, financial planners, insurance agents, trust officers and other professionals looking to better serve the special needs community.
Table of Content
Acknowledgements. Preface. Introduction: What is “Special Needs” Planning? Part 1: Life Planning: Your Child’s Place in the Community. 1. Start with a Life Plan Chapter. 2. Create the Circles of Support. 3. Life Skills are the Foundation for Independence. 4. Write a Letter of Intent. A Checklist of Life Planning Actions. The Case Studies: Life Plans. Part 2: Resource Planning: Making It Possible. 5. Identify the Services to Meet Special Needs. 6: A Job One Can Be Proud Of. 7. A Home of One’s Own. 8. Understand the Basics of Social Security and Medicare. 9. Understand the Basics of Supplemental Security Income and Medicaid. 10. Understand State-Provided Services for Adults with Disabilities. A Checklist of Resource Planning Actions. Case Studies: Resource Plans. Part 3: Financial Planning: Paying for the Resources. 11. Develop a Special Needs Financial Plan. 12. Estimate Lifetime Financial Support. 13. Plan for Funding and Managing a Special Needs Trust. 14. Maintain an Insurance Safety Net. 15. Efficiently Manage Income, Trust and Estate Taxes. 16. Update Your Financial Records to Implement Your Estate Plan. A Checklist of Financial Planning Actions. Case Studies: Financial Plans. Part 4: Legal Planning: Protecting Your Vision and Your Child. 17. Establish a Comprehensive Estate Plan. 18. Prepare the Appropriate Legal Documents. 19. Establish a Special Needs Trust. 20. Obtain Guardianship or Implement Alternative Protections. A Checklist of Estate Planning Actions. Case Studies: Legal Plans. Part 5: Special Circumstances. 21. Divorce and the Special Needs Child. 22. Denial of Eligibility for Government Benefits. 23. Marriage: Considerations for People with Disabilities. 24. Twelve Things to Remember. List of Acronyms. Definitions of Important Terms. References and Further Reading. Index.About the author
Hal Wright CFP® has been married for forty years and has three adult children, one born with Down syndrome. He had a successful 27 year career in corporate finance, but in 2004 read an article in the Wall Street Journal about the scarcity of financial planners with expertise in special needs planning. He resigned his corporate position and established a financial planning practice focused on special needs planning. He graduated from the College of Financial Planning and earned the respected professional designation of Certified Financial Planner (CFP®). Now retired from professional practice, he is a frequent speaker on the topic and has presented to the Colorado Bar Association and the Women’s Estate Planning Council for CLE credit. He lives in Denver, Colorado.More ebooks from the same author(s) / Editor
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