Securing Your Loved One’s Future
Planning for a loved one with special needs can be overwhelming…
What is a Special Needs Trust?
What Types of Special Needs Trusts Are There?
There are three main types of Special Needs Trusts:
- Third-Party Special Needs Trust: Funded by someone other than the person with disabilities, like a parent or guardian.
- First-Party Special Needs Trust: Funded using the disabled individual’s own assets, such as savings or an inheritance.
- Pooled Trust: Managed by a nonprofit organization that combines resources from multiple families to reduce costs.
Why Do You Need a Lawyer for a Special Needs Trust?
Choosing the Right Trustee and Guardian
Crafting a Letter of Intent
Consider an ABLE Account
An ABLE account allows individuals with disabilities to save money in a tax-advantaged account without losing eligibility for government benefits, up to a limitation. For example, If you contribute more than $100,000 to an ABLE account, you may lose benefits. That’s why it’s important to speak with a CERTIFIED FINANCIAL PLANNER professional with a ChSNC designation to guide you on how to best navigate your special needs savings strategy. ABLE accounts are perfect for covering a range of disability-related expenses like education, housing, and transportation.
What Is a Chartered Special Needs Consultant®?
The specialized ChSNC® designation means that our advisors are equipped with the advanced knowledge and compassion needed to navigate special needs planning. This expertise allows advisors like Nicky Amore, CFP®, ChSNC® to create tailored strategies that ensure your loved ones receive the best possible care and financial support.
Additional Resources for Families with Special Needs
- Hire Heroes USA: Supports U.S. veterans and their spouses in finding meaningful careers. Learn more at Hire Heroes USA.
- ABLE Accounts: Savings and investment accounts specifically designed for individuals with disabilities. Learn more at the ABLE National Resource Center
Secure Your Family’s Future Today
Don’t navigate special needs planning alone. Let Falcon Wealth Planning guide you through every step of the process with honesty, ethics, and compassion. Fill out the form to book your free assessment and start planning for a brighter future for your loved ones today.
