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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Financial Care for Special Needs Adult Children

Caring for adult special-needs children requires constant research and attention. As parents age, continuing care for older children may be a challenge. As we age more focus on personal health takes precedence. Caring for adult special-needs children may become more challenging. Preparing for the future of care can help create a financial and family support system for your special-needs child. Create a plan with these 5 steps for ongoing special-needs care:

1: Make it a family decision.

For parents of adult special-needs children able to communicate, include them in the process. Each family will be different and finding strengths and areas where help is necessary can help. Their employment, personal financial responsibility, and a network of caregivers will all affect future planning. A clear understanding of capabilities and requirements can help in forming a plan.

2. Create a support system.

Establishing responsible legal guardianship creates support for medical and financial matters. This gives parents control over the designated party. Before appointing a guardian clearly define the role and responsibilities.

3. Plan your estate.

An estate plan will make sure special-needs children are properly cared for. A will legally ensure wishes are followed and children are cared for. Depending on the level of care required, provisions can be included to pay for caregivers and treatment. Other options including trusts can funnel inheritance while maintaining government or state benefits for your child.

4. Create a savings plan.

Save for the future with tax-advantageous savings plans for parents of special-needs children. The Achieving a Better Life Experience Act (ABLE) of 2014 established savings plans to help special needs children. Amounts withdrawn to pay healthcare, education, legal and other expenses are exempt from taxes. Anyone can deposit allowing family and friends to contribute.

5. Plan living arrangements.

For parents of adult special-needs children living at home, a plan for future living arrangements will be necessary. Planning ahead gives parents control over selecting appropriate and risk-free environments capable of supporting their special-needs child. Changes in employment, income, and relationships can affect future arrangements when left to chance. Establishing a legal plan will arrange for the right care in the right place.

Planning ahead gives peace of mind today and ensures ongoing care for the future for the whole family. For more on planning or for answers to questions call today.