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Special Needs Planning

Utah Special Needs Planning

Relieve Stress and Provide Care

Create a plan to release your worries about your child's future.

All parents worry about their children, but special needs increase those worries emotionally and financially. Create a plan now to help reduce your stress and increase your confidence in your child's future care.

Examples of Special Needs Planning Resources

When you meet with our legal office, we may discuss several options for your individualized plan.

Letter of Intent

This document explains your situation and instructs future caregivers for your child. You can find free versions online, but they would not be legal documents unless drafted by an estate attorney. We can help.

ABLE Account

When a disability is apparent before age 26, these savings plans set aside funds for future tax-free disability expenses such as medical treatment, housing, education, and legal fees. Limitations may apply.

Special Needs Trust

When Medicaid and Supplemental Security Income don't cover all your needs, this trust provides the security for additional expenses without the limitations within the ABLE Account.

Who This Service is For

It costs more than $250,000 to raise a child (not including college), but the cost can be more than twice that for a child with disabilities—and much more if lifetime care is needed. Nearly 54 Million Americans cope with special needs and the rising associated expenses. According to Autism Statistics, 78% do not have any form of Special Needs Financial Life Plan.

Insurance doesn't come close to covering all of the expenses, but you are entitled to benefits and programs that can help. People with a financial plan are more optimistic about their financial future than those without. The benefits far outweigh the costs according to statistics.

Long-term financial planning is essential to make sure that your child continues to receive the best possible care, even when you can no longer provide the care yourself.

Free E-Book

A Child With Special Needs,
Needs Special Planning

When a child has special needs, the challenge of planning for the future and their guardianship intensifies. Access our e-book to explore strategies to best protect your loved ones with special needs.

A Child With Special Needs, Needs Special Planning

Additional Considerations

  • Overview protective federal law
  • Secure proper guardianship
  • Understand power of attorney
  • Analyse health insurance options
  • Discuss communications with other family members
  • Build your savings

Want to Learn More?

When planning your future finances for special needs, a letter of intent puts your mind at ease. This document, also called a letter of instruction, explains your child's situation to provide essential instructions to future caregivers. This information could include the types of food they eat, how they communicate, etc. Examples can be found online, but it is not a legal document if it's done without an attorney.

An ABLE Account can be provided to a person with a disability before age 26. Modeled after 529 college savings plans, the account sets aside funds for future needs tax-free. The money can also be spent tax-free on disability expenses, treatment, housing, education, and legal fees.

Medicaid and Supplemental Security Income do not cover all of a person's needs. Added security can be gained through a Trusts. Also called a supplemental needs trust, a special needs trust does not carry the same limitations as an ABLE Account. First-party Trusts are funded by individually received inheritance, personal injury award, or some other source. Third-party Trusts are funded by a family member or life insurance policy.

After obtaining a trust fund, you must also consider who to name as trustee. This may be a family member, or you may choose to entrust a corporate fiduciary. As an individual's situation and support system change over the years, a plan may need revisiting. Contact a professional to help keep your plan up-to-date.