Special Needs Financial Planning

Special Needs Financial Planning is a vital process for families seeking to provide long-term financial security and care for a loved one with a disability. As a financial planner, the objective is to help families create a comprehensive plan that protects the individual’s access to essential government benefits while ensuring adequate resources for their lifetime needs. A Special Needs Financial Plan typically consists of two key components:

Our power of choice is untrammelled and when nothing prevents our being able to do what we like best, every pleasure is to be welcomed and every pain avoided. But in certain circumstances and owing to the claims of duty.

A dedicated financial plan for the individual with special needs.
A comprehensive financial plan for the parents/family.

Clients have the flexibility to choose either plan based on their needs or opt for both for a fully integrated approach.

Key components of the financial plan for the individual with special needs include developing a plan to fund a Special Needs Trust (SNT) to safeguard assets, opening an Able account and evaluating other funding vehicles (e..g, insurance), and strategies for optimizing government benefits like Medicaid and SSI. Additionally, we will draft a Letter of Intent in collaboration with the Client to guide future caregivers, strategies for funding ongoing care, and a review of housing, education, and employment options. We always recommend that you consult with a qualified attorney when you initiate, update, or complete SNT activities. We may provide you with contact information for attorneys who specialize in drafting SNT when you wish to hire an attorney for such purposes. From time-to-time, we may participate in meetings or phone calls between you and your attorney with your approval or request. Once the initial financial plan for the individual with special needs is created, the Client will be ultimately responsible for implementation. Clients may engage MaNTRANA for additional support through our Project-Based Financial Planning Services.

Our comprehensive financial planning service for parents and families mirrors our core Comprehensive Financial Plan offering and is available as either a one-time engagement or an ongoing advisory relationship.