Many Families with Special Needs Children Fail to Plan for Their Financial Future

By David Wolf, Attorney
Published by Child Injury Lawyer Network

Taking care of a child with disabilities can be overwhelming. For many parents, that means they are unable or otherwise neglect planning for their child’s financial future. There are nearly 5 million children in the United States suffering from disabilities, and advanced healthcare technology allows many of them to outlive their parents. If the parents fail to plan for the care of their child after their own passing, that can place a heavy burden on other family members or may leave the child without any support at all. That makes the need for financial educational and planning resources for this group more critical than ever.

Planning for a special needs child’s future can be very complicated, requiring expertise in a variety of federal and state laws. The good news is that the high demand for these services in recent years has prompted many well-respected financial planning firms to develop programs especially for families with special needs children. Many businesses / programs / organizations train their employees to deal with the financial, legal and emotional issues of planning for a special needs child’s financial future. They may enlist the aid of an attorney, an accountant, and even social workers and other caregivers to create a well-rounded plan.

Parents should seek guidance in these matters as early as possible in order to avoid making costly mistakes. Find out more about financial planning for special needs children at Children with special needs face uncertain financial future.</a