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Special Needs Individuals

At ICMG we create straightforward financial planning strategies designed specifically for your Special Needs Individual.   We can help you plan ahead for the individual’s independence at age 18, as well as when you are no longer able to assist him or her.

Our first and foremost goal is to work with you to set up a personalized Special Needs Trust that is appropriate for your situation. We suggest that you consider doing this immediately. Even if you do not have money to put into a trust now, it is wise to set one up anyway.

  • A Trust will allow you to make the trust the beneficiary of your life insurance policy and your estate, ensuring that those and other assets you have don't get passed to your child when you die.
  • If your child were beneficiary of your estate, more than $2,000 in assets could make the child ineligible for federal benefits such as SSI.
  • If family members or other loved ones want to leave something to your child, they should name the special needs trust as the beneficiary to ensure that your child holds no assets of his or her own.

Click here to learn more about Special Needs Trusts.

We work with a team of specialized professionals to provide other recommended steps:

  • A Will that specifies what will be done with your assets after your death. Without a will, a probate court judge might name your child as a beneficiary, making your child ineligible for federal benefits.
    We communicate on your behalf, as necessary, with a lawyer of your choice and can recommend one who works specifically for people with special needs and is aware of your state's disability laws.
  • A Savings Plan to help cover extra expenses that your school system or insurance do not cover.
  • A Letter of Intent to make sure that your child's everyday needs will be met should anything happen to you: Child's daily routine and daily, weekly, and monthly schedules.*
  • A list of Contact and Medication Information: Child's physicians, therapists, and other medical support people as well as current medications and their dosages and schedules.*

*Update as needed and let someone you trust know where they can find it.

With so much to consider and pull together, we will be there for you, working efficiently, compassionately and comprehensively as your trustworthy team coordinators.

Consider using eMoney.  It is a valuable storage vault that keeps all of your documents and life information in one place. We can help you get started. You can access it easily 24/7 by mobile phone or computer.

To learn more about eMoney, click here.