Modera Wealth Management
Modera Wealth Management

Special Needs Planning Financial Advisors

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Special Needs Planning Financial Advisors2022-05-20T21:09:41+00:00

Financial Planning for Special Needs Families can be Complex

We begin by addressing some key issues and steps related to financial planning for special needs families, such as:

  • Creating a Life Plan, or Letter of Intent, for your loved ones

  • Evaluating the various special needs trusts and establishing an estate plan

  • Navigating the various government benefits, including social security and medical coverages

  • Assessing tax deductions, including those related to medical expenses

  • Understanding the ABLE act and disability law

  • Setting up medical and financial powers of attorney

Given the nuances related to special needs planning, we realize the importance of partnering with a special needs financial advisor, such as Chartered Special Needs Consultant (ChSNC), who has expertise in this area. A decision made in one area of your financial life may have a domino effect across other aspects of your life, especially when it comes to planning related to disability, medical conditions, or other special needs. Coordinating these decisions with a special needs financial advisor, in concert with your other professionals, is key to building a comprehensive plan to protect you and your loved ones.

How are Special Needs Financial Advisors Different From Other Financial Advisors?

Financial planning for families with special needs tends to include more unique and complex considerations than we see in other financial planning situations. Here are a couple ways that financial planning for special needs for you or a loved one may differ from other advising:

  • Establishing guardianship for a loved one

  • Protecting assets received as gifts from family members or an inheritance

  • Finding resources related to education law, job supports, housing options, or mental health facilities

  • Planning for a loved one who may never be fully independent

Having the expertise to provide advice on the potential complexities in your plan is only one piece of the puzzle in finding the right advisor or firm for you. Chartered Special Needs Consultants complete ongoing continuing education to keep up with the ever-changing laws and regulations in this space. We received education on the various disabilities, medical conditions, or other special needs diagnoses to better understand you. We realize the sensitive nature in talking about the challenges you may have had to overcome or are still navigating. We appreciate the importance of celebrating successes not only within your financial plan, but in your life or your loved one’s life. Having the education and background in this area allows us to build deeper relationships with you as we partner with you to put together the pieces of the puzzle within your financial plan. We will be with you every step of the way.

How to Take the Next Step

If you or a loved one needs financial planning for special needs, we are here to help. Connect with us today to schedule a consultation to gain a better understanding of our services. In your initial discussion with our special needs financial advisor, you will have the opportunity to share your story, your goals, your concerns, and what is most important to you when it comes to partnering with a financial planning firm and the individuals who will share your journey. You will learn more about the Modera experience, our values and dedication to serving you throughout your lifetime, and ultimately how we may be able to partner with you to create or enhance your financial plan.

Contact Mindy Neira, Chartered Special Needs Consultant®, CFP®

Educational Articles:

Special Needs Trusts for Gifting and Inheritance

If you have a minor or adult child with special needs, financial concerns are likely top of mind. Often, family members or close friends want to help you by gifting to your child or leaving an inheritance to them. Though this generosity may be appreciated, there can be unintended side effects of gifting outright to someone who has special needs.

Good to Know, Special Needs|
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