Tuesday, April 10, 2012

"Special Needs Planning"

Special Needs Children and Adults may require 24 hour care and attention for their entire lives. They may or may not receive all they are eligible for through publicly funded programs. Often  more care is required. As with any public funding, it is subject to budgetary constraint and is reviewed every year. It is not guaranteed to continue, to continue at the current rate, much less increase to offset any inflationary pressure on the cost of providing the care or additional care needed as time goes on. Life insurance can play a role  as in a Survivorship policy. Payout on the last death going to the trust for the payment of the child’s care for the balance of the child’s life….is often reason to have more coverage in place than first available through conventional financial underwriting.

 In addition to full time occupation, many also provide full time care for this Special Needs family members.  It is not appearing on a balance sheet anywhere as it is part of the well documented unseen costs that caregivers incur in the form of lost time, lost opportunity (can’t take a better job that pays more), lost pension, etc.   Despite modest income, what they face in the future for years to come in providing the care for these children/adults is daunting. This curriculum will give attendees a basic awareness of the resources, how they work and the role they can play in assisting with solutions.

This course has been submitted for one hour of Continuing Education for insurance, CFP, attorneys and CPAs.