LifestyleMidday Maryland


Finley Alexander Wealth Management - Saving for Loved Ones With Special Needs

Posted at 2:16 PM, May 17, 2021

In the past two years, the rate of Autism diagnoses has increased. We're seeing great advancements with schools mainstreaming classrooms providing acceptance as a whole, and more individuals living on the spectrum graduating college and going on to secure positions in the workforce. However, many people with special needs are still having challenges operating a household on their own.

If you've got a regular will in place for your children that splits assets equally, your special needs child will now have to report that as income, which may impact any government programs or financing. Additionally, if arrangements for guardianship aren't made, the child could become a ward of the state.

A will with a special needs trust can help give you peace of mind and keep your child with someone who loves them and will care for them as if you were still able to.

Learn more here.