Financial Planning

Among the many challenges for families is making sure there will always be enough money to provide lifetime care for special needs children.  One solution is to fund a special needs trust with life insurance.

A good special needs plan involves many key players, including a guardian, a health care proxy, an executor, a trustee and possibly a trust protector.  It’s a good idea to review these selections on a regular basis, because change is inevitable.

Many parents have their retirement savings socked away in 401(k)s and IRAs. There are ways for beneficiaries to avoid paying taxes on the funds prematurely, but when a beneficiary has special needs, things get thorny.

People wishing to help someone with special needs save for their future without jeopardizing the recipient's public benefits can now do so using a "Gift of Independence" card.

Low-income seniors and people with disabilities could save up to $7,500 this year through the Senior Tax Credit for the Elderly and Disabled. ...

Paying for day care is one of the biggest expenses faced by working adults with young children, a child with a disability or a dependent parent, but a tax credit can help these working caregivers.

Among the many questions surrounding ABLE plans is who can open accounts?  Only the person with a disability? Parents?  Other relatives? Friends? ...

Section 529 College Savings Plans can be an excellent investment tool when saving money for a child’s educational expenses. But if the child receives Supplemental Security Income  benefits, families should be cautious.

A new audit finds that the government likely overpaid hundreds of millions of dollars to certain SSI beneficiaries. As many as 77,000 beneficiaries may be forced to pay back some or all of their overpayments.