At Secure Planning Strategies, we partner with expert counsel from multiple disciplines to create a financial plan that addresses a client’s many needs. Every family has different goals and a unique financial situation that requires a customized plan. In order to create a customized plan, we utilize a holistic planning process that incorporates their short and long-term needs.
Step 1: Discovery
During the first meeting, we take the time to understand the family’s current situation and needs, as well as their future goals and objectives. We strive to understand their entire financial picture, analyzing their legal documents, investments, insurance, trusts, and other important materials. Before creating a strategy, the following factors must be taken into consideration:
- Extent of disability
- Current cost of support
- Future increase in the cost of support
- Integration with government assistance
- Family finances
- Needs of other family members
Step 2: Recommendations
Following, we identify opportunities available and strategies we believe align with clients goals. Meeting again with the family, we share our recommendations and answer any questions they may have. Often, our recommendations address multiple issues, including:
- Eligibility for government benefits
- Coordination of State and Federal Funding
- Creation and funding of a Special Needs Trust
- Designation of future trustees
- Guardianship, if necessary
- Parents' own planning
- Future residence
- Planned flexibility and continuity
Step 3: Implementation
Once a family understands our recommendations and has determined the steps they want to take, we help them implement the plan. During this step, we can also coordinate with a client’s other professionals or advisors, including attorneys and private and public agencies.
Step 4: Manage and Monitor
Once a plan is in place, we periodically review and revise as personal circumstances or external factors change.
Step 5: Ongoing Support
A common concern among clients centers on what will happen to their child once the parent or provider dies. We offer ongoing support with the goal of helping parents feel confident that their child will continue to be cared for and supported.