Special Needs Planning
The goal of special needs planning is to ensure that a loved one with a physical cognitive or mental challenge has the opportunity to lie their best life. Your advisory team will work with you to design a comprehensive approach that incorporates financial, resource, legal and life planning for these individuals.
What You May Be Thinking
- What steps can I take to ensure that my hopes for my loved one’s future will become reality?
- Who will serve as their guardian and caregiver if I am unable to do so?
- How do I ensure they will continue to receive their government benefits?
- What legal actions should we take, including determining the need to establish a Special Needs Trust?
- How do I calculate the amount I need to save for their future?
- What is an ABLE account, and should we be using one?
- How do I create a team of specialists that will be able to address future health care, vocational, communication, psychological and personal assistance needs?
Special Needs Planning touches on these other important areas of planning used by Copper Leaf:
How Your Team Helps
Your advisory team has guided many clients through the process of creating a plan that will help safeguard their future. This approach is intended to help you clarify your thoughts and define your goals. We have meaningful conversations to discuss opportunities and ask introspective questions with the aim to:
- Perform a self-assessment to identify your family’s concerns in the areas of employment, social living, transportation, health, fitness and housing for your family member.
- Create a Letter of Intent.
- Leverage federal and state government benefits. We will work with your attorney and family to help attain or maintain eligibility for benefits where appropriate.
- Calculate how much you should set aside for future needs.
- Collaborate with your attorney and legal team to establish the proper legal documents and care plan for the future.
- Help you build a team of resources to assist your loved one.
- Learn about your loved one’s preferences and your dreams for them. Where will they live? Who are their friends? What job would they aspire to have? Who will serve as their future caregiver? These are critical areas that establish the fabric of their life.
Please note that the information presented in this material is for general purposes only and should not be acted upon without first seeking professional advice. This material has been authorized by Focus Partners Advisor Solutions (FPAS), and CLF makes no representation or warranty regarding the accuracy of the information provided. It is being used with permission and was originally published by FPAS.
Copper Leaf Financial has established key strategic partnerships with elite financial industry leaders including FPAS. These alliances put us in the optimum position to help clients reach their personal and financial goals while retaining our independence. We are truly independent fiduciaries offering high-level services without being accountable to a large parent corporation unlike many of our competitors who attempt to pick stocks and outsmart the market. As a member of FPAS network of more than 140 independent wealth management firms we have strengthened our ability to help clients make the best decisions by providing them with ideas, insights, and intelligence from industry thought leaders. Through our strategic partnerships we are in a unique position to deliver comprehensive solutions to our clients. This is true wealth management.
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