“What will happen to the special needs family member when the parent or provider dies?”

This is a common concern and can be answered through proper planning. Care and support services are typically continued through trustees, advocates, or siblings. At Secure Planning Strategies, our planning process can help clients pursue their goals and feel confident in their future.

Eldercare & Special Needs

Eldercare and special needs is a unique combination requiring customized solutions. Elderly parents of adult special needs family members face unique challenges as they are required to deal with their own elder planning while still providing care and advocacy for their special needs son or daughter. Planning solutions can incorporate Social Security benefits, pensions, annuities, stocks, bonds, long term care insurance, Medicare, Medicare supplements, reverse mortgages and CD’s. The appropriate solutions require an unbiased assessment of the aging parents’ needs based on a comprehensive understanding of wealth span issues unique to this audience.

Our strategies address a number of issues and questions families must consider, including:

Financing housing and care in your own home for a special needs child and/or yourself

• Personal assets: How long will they last?
• Long term-care insurance: What is important in a policy?
• Reverse mortgage: What are the advantages and disadvantages?

Maximizing your quality of life while preserving assets

• Geriatric financial planning: What are the elements?
• Care advocacy: Who will serve as professional care advocates?
• Legal documents (wills, trusts, durable Power of Attorney form, etc.): When is the right time to appoint a conservator?
• Medical matters: When should you appoint a guardian?

Personal Service Contracts

• What are the options?
• Should they be part of your financial planning?