Parents who have children with special needs deal with a unique set of planning issues. In addition to health, educational, and care planning issues, special needs present complex financial issues for families to address.
Our checklist below was created to assist families with special needs children in covering key considerations for financial planning, including:
- Qualification for needs-based public benefits
- ABLE accounts and special needs trusts
- Tax planning opportunities
- Estate planning challenges
- Lifelong support considerations
**This guide has been updated to incorporate new changes made by The SECURE Act 2.0 that are effective for the 2023 year. Any SECURE Act 2.0 changes that are effective for 2024 will be incorporated into this guide at the start of the 2024 year.
Spectrum Wealth Counsel, doing business as Spectrum Wealth Management, LLC, is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Additional information about Spectrum’s investment advisory services is found in Form ADV Part 2, which is available upon request. The information presented is for educational and illustrative purposes only and does not constitute tax, legal, or investment advice. Tax and legal counsel should be engaged before taking any action. The opinions expressed and material provided are for general information and should not be considered a solicitation for purchasing or selling any security.
