About the Book
How can families of children with disabilities plan for lasting financial security at every stage of life? Find clear answers in The Special Needs Planning Guide, a step-by-step companion for parents as they progress through the complexities of planning for the future of their family and their child. Written by two financial planning experts who are also a parent and a sibling of a person with disabilities, and including contributions from a nationally recognized advocate, this bestselling how-to guide is now in its second edition.
Revised, reorganized, and carefully updated to reflect current law, this book gives families the real-world advice, strategies, and actions needed to plan for both their future and the well-being and security of their child. With clarity and compassion, the authors guide families in addressing five critical factors involved in special needs planning— family and support, emotional, financial, legal, and government benefits factors—at every stage of their child’s life, from birth through adulthood. Throughout the book, readers will learn from the stories and advice of other caregivers, get helpful planning pointers and key questions to answer, and take action with the chapter lists of Next Steps. To help families customize the information in this book for their specific needs, this new edition also offers a complete package of online resources, including a fillable Special Needs Planning Timeline, easy-to-use financial planning worksheets, and an in-depth Letter of Intent template families can use to map out their vision for their child’s life.
Informed by decades of personal and professional experience, this reader-friendly guidebook will help families educate themselves about financial planning, create a complete action plan for their future, and provide the knowledge and the tools they need to work toward a secure and full life for their child.
WHAT’S NEW:
Fully revised chapters and online resources
A 10-step process that breaks complex planning into manageable tasks
Letter of Intent now available as a fillable PDF
Excel worksheets for easy planning
New chapters on Foundational Financial Strategies and Tools, and Advanced Strategies and Special Circumstances
Helpful information on ABLE accounts, housing options, and military Survivor Benefit Plans
New planning tips, pointers, and case stories
Guidance on creating a Team to Carry On beyond the parents’ lifetimes
SELECTED TOPICS COVERED: special needs trusts funding · trustee selection · insurance strategies · investment guidance · estate planning · legal settlements · government benefits, such as SSI, SSDI, and housing benefits · goal-setting · advocacy · hiring financial and legal professionals · sibling considerations · contributions of extended support networks · retirement plans · guardianship and less restrictive alternatives
Table of Contents:
Section I Your Planning Essentials
Chapter 1: The Special Needs Planning Timeline
Chapter 2: An Overview of Special Needs Planning
Section II: The Five Factors
Chapter 3: The Five Factors to Consider in Special Needs Planning
Chapter 4: Family and Support Factors
Chapter 5: Emotional Factors
Chapter 6: Financial Factors
Chapter 7: Legal Factors
Chapter 8: Government Benefit Factors
Section III: A Plan for Your Family
Chapter 9: Building Your Financial Framework
Chapter 10: Building Your Special Needs Plan
Chapter 11: Steps 1 and 2: Creating Your Vision
Chapter 12: Steps 3 and 4: Gathering Your Information
Chapter 13: Steps 5 and 6: Assessing Your Child’s Needs
Chapter 14: Steps 7 and 8: Doing Your Analysis
Chapter 15: Steps 9 and 10: Gathering Your People
Section IV: Frequently Asked Questions, Tips, Tools, and Strategies
Chapter 16: Foundational Finance Strategies and Tools
Chapter 17: Advanced Strategies and Special Circumstances
About the Author :
Cynthia R. Haddad, CFP(R), ChSNC(R) Founding Partner, Affinia Financial Group, Burlington, MA (www.affiniafg.com and www.specialneedsplanning.com) Cynthia grew up watching her parents love and care for her older brother with special needs, while juggling the needs of the whole family. She understands firsthand that lives are complex and with each day comes the possibility of new challenges and successes. Early in her career, she began to view her profession through a personal lens, recognizing the unique nature of the financial planning requirements of families like her own. Cynthia applies her extensive planning skills and empathetic approach to her practice advising individuals, families, and trustees. She understands the importance of taking a pragmatic approach to the planning process and focuses on communication, guidance, and encouragement to keep her clientsâ (TM) actions aligned with their goals. Cynthia earned a Bachelor of Arts in finance and economics from Simmons University (formerly Simmons College) in Boston. She is a member of the Financial Planning Association and the Academy of Special Needs Planners.
John W. Nadworny, M.B.A., CFP(R), ChSNC(R), Founding Partner, Affinia Financial Group, Burlington, MA (www.affiniafg.com and www.specialneedsplanning.com) John had both his career and family well underway when his third child, James, was born with special needs. This life event immediately and dramatically changed both the course of his plans for the future and his priorities. Planning with families over a span of decades has provided John with an education like no other. This specialized knowledge allows him to understand the personal and financial resources needed to present viable options and possible solutions for families with unique and challenging circumstances. He received industry wide recognition when Investment News chose to feature John and his family as the cover story of their September 2017 issue devoted to planning for individuals with special needs. They also produce a video, A Father First, telling the story of Johnâ (TM)s interwoven personal and professional lives. In Massachusetts, John was also a proud participant in the rollout of the ABLE (Achieving a Better Life Experience) Account. John has earned a Master of Business Administration from Babson College, a Master of Science from Bentley College, and a Bachelor of Science from Bridgewater State College. He is a member of the Financial Planning Association and the Academy of Special Needs Planners.
Leo V. Sarkissian has led The Arc of Massachusetts as Executive Director since 1991, after enter ing the disability field in 1976. During Leo's tenure, The Arc, a statewide advocacy
organization:
1. Insured adult transition services for graduating students (now 1,300 annually).
2. Expanded Family Support or Respite programs to $84.9 million.
3. Changed eligibility regulations so that persons with intellectual or cognitive
disabilities could participate in the Personal Care attendant program.
4. Worked toward passage of several bills, including self-direction, service to
adults with autism spectrum disorder (ASD) and developmental disabilities,
and a registry for staff substantiated for abuse.
5. Established community services for 3,844 individuals through settlements
from two waiting-list cases.
6. Established a strong education-outreach record with publications and website
tools to assist individuals in planning housing, person-centered planning, and
social inclusion. A health equity program reaches five medical or graduate
nursing programs.
7. Saw the Massachusetts Department of Developmental Services grow to
become a $2.3 billion state agency.
Prior to his statewide advocacy role, Leo oversaw a multi-service agency that
provided residential, employment/day, personal care assistance, early intervention,
and family support services. He also has served as a clinician with various roles,
including counseling, emergency services, and a team member in the development
of adult community services.
Review :
What I value most in this new edition is the comprehensive coverage that is presented in an approachable style. The second edition continues to emphasize the family in family planning, recognizing that every family is unique, that siblings may be the longest support for a family member with disability, and that a family member with a disability must have a meaningful voice in this process. --Michael L. Wehmeyer, Ph.D.
