Financially Supporting Your Special Needs Child for Life

Alexis asks: “How do I best make arrangements for my daughter’s physical care (housing, etc.) when I am no longer around?”

Alexis, thank you for your question. This is a concern we hear from every family we meet. It is truly at the core of planning for your daughter’s future. I recommend you work through a series of steps in securing her future:

1. Investigate

Investigate organizations in your area that provide housing for individuals with intellectual and developmental disabilities, then schedule times to meet with them. Depending on your daughter’s abilities, there will likely be several options, including independent living apartments with supervision, Group Homes, and Alternative Family Living (AFL). In addition, depending on your family situation, some organizations will work with you on customizing a housing option for your daughter.

2. Financial cost

Once you have determined your area’s options, it is time to reveal the financial cost for those options. Commonly, a majority of the cost will be covered by government benefits such as Supplemental Security Income (SSI) and Medicaid; however, those programs do not cover all the costs. It is es

We do recommend you find professionals to help you in creating your plan, as well as in carrying it out. Due to the complexity of government benefits, taxes, and legal issues, there are many pitfalls you will want to avoid, and a qualified guide can help you do just that. Visit our website, http://www.aspecialneedsplan.com to download our Complimentary Guidebook on Special Needs Planning to learn more.

Ryan F. Platt, MBA, ChFC, ChSNC, CFBS, is a registered representative of and offers securities, investment advisory, and financial planning through MML Investors Services, LLC, Member SIPC. Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC, Member SIPC. A Special Needs Plan is not a subsidiary or affiliate of MML Investors Services, LLC or its affiliated companies. This article is not a recommendation or endorsement of any products.

Website: http://www.aspecialneedsplan.com

Phone: 704-326-7910

Location: 101 N. McDowell Street, Suite 120 Charlotte, NC 28204

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