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Holistic Guide For Families Who Have A Loved One With Special Needs

PUBLIC BENEFITS BY CALEB HARTY Many important benefits are outlined below, but not all. Also, effort has been made to point out important aspects of the programs, but outlining every detailed exception, rule, etc., is beyond the scope of this informational guide. For context, most of these programs are “means-tested,” which means they are usually not available until the child turns 18 because up until that point the parents’ assets and income are taken into […]

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Special Needs Parents Need To Consider Life Insurance

BY JOHN LATONA Parents of a special needs child will spend a lot of money on care throughout their child’s lifetime. Recurring expenses of any kind are what define a family’s financial lifestyle, so more bills and specific needs means a more expensive lifestyle. Raising Children is Expensive Kids are expensive. (You don’t say…) As a parent of two young children, I know this first-hand. For those of you who have your first child on […]

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Bipartisan legislation introduced to enhance ABLE accounts

Source Autism Speaks New legislation was introduced late yesterday in Congress to enhance Achieving a Better Life Experience (ABLE) accounts. Nineteen states currently offer ABLE accounts, which allow individuals to save for short- and long-term disability-related expenses on a tax-favored basis. The new legislation – ABLE 2.0 – includes three separate bills: ·      ABLE to Work Act would provide additional incentives for savings for ABLE account holders who work. This bill would qualify ABLE accounts […]

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Special Needs Planning

DEALING WITH THE FULL PICTURE BY CALEB HARTY What does “special needs planning” really mean? I often speak with people that believe that they’ve completed their special needs planning simply because they established a Special Needs Trust (SNT). Of course, SNTs are an  extremely important component of planning for a loved one with special needs. When set up correctly, an SNT allows an individual to remain eligible for public benefits, while the trust owns a […]

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Issues To Consider Regarding Guardianship And Supported Decision-Making

BY HUGO DWYER & VOR’S COMMITTEE ON GUARDIANSHIP RIGHTS Individuals with intellectual and developmental disabilities (I/DD) and their parents, family members and guardians may have heard about Supported Decision-Making (SDM), an initiative that could affect their decision-making rights. Some see SDM as an alternative to guardianship, while others view it as an attempt to remove the legal instrument that provides a safety net for vulnerable individuals. VOR is a national organization that advocates for high […]

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5 Ways To Advocate For A Child With Special Needs During A Divorce

BY MINDY STANNARD Going through a divorce can be a stressful and trying time for any parent. Parents of a child with disabilities or special needs often face additional challenges when going through a divorce. Even an amicable divorce can include many complicated issues when the parents have a child with special needs. Issues relating to decision-making, a parenting schedule, child support, alimony and division of debts and assets are especially important in cases where […]

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5 Truths About Millennials And Money

BY TINA  HAY Many millennials leave high school and even college without any academic insight into personal finance or investing. 1. Millennials are interested in starting and running their own businesses. Whether it’s within the next few years, or later on in life, startup culture has become more and more appealing.  Resources for how to fund a new company or raise money for a new venture are very popular. Many young adults are trying to […]

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Good Planning Protects Benefits And Creates Assets

BY ROB WRUBEL CFP®, AIF® A winning team needs to be established. thIs means finding a financial planner, a lawyer and an accountant each of whom understands the unique challenges and planning opportunities available to families like ours. A friend walked in to my office one day. He carried a leather briefcase. He put his heavy brown case on my desk then paused with his fingers over the brass clasps. He smiled and looked at […]

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Introduction of ABLE Accounts in Some States this Summer

An ABLE account is designed to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available to cover qualified expenses such as education, housing, and transportation. This summer, certain states will begin introducing ABLE accounts, providing special needs individuals and their families another resource through which to save and invest for the future. Signed into law in 2014, the ABLE Act and associated accounts are modeled after 529 education savings plans […]