"phil" <motyka[at]hamptons.com> wrote in message
news:34o7qsF4615ukU1[at]individual.net...
- quote -

Good. There's no reason to reject any help that helps one get ahead, or
helps one become self-sufficient.

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://www.brentdgardner.com/
http://www.gardnerfinancialgroup.com/
http://www.topgunproducers.com/

Si vis pacem para bellum!

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

One of my beleifs is that there are many others who will
need government assistance more than my son will-at 9 years old,we are
addressing his educational and social needs as much as possible to keep him
on track to blend into society and be productive and self-reliant.As I had
stated,the same thing any parent wants for their child.I don't want him to
be a burden on anyone,even myself;I also don't want to have to worry about
how successful I am and have to scale back anything I can give to him in his
future because I want the government to support him.If he needs government
assistance in the future,sure,I want him to be able to get it-I want anyone
who has disabilities,health or financial trouble to have the programs
available to them if necessary.But I want to encourage him,and anyone
else,to do their best also because dependence on that safety net can lead to
a lifetime of dependence.And I know that what is called 'entitlement
programs' have been under scrutiny and suffered cuts due to recent
developments in the economic picture.
So don't think I totally reject government help-I want them to help me
educate my child so that he can contribute to society,without having to
depend on it for his existence.

"MargryMouse" <pauli.price[at]gmail.com> wrote in message
news:1105579941.646294.7150[at]f14g2000cwb.googlegroups.com...
- quote -

I take issue with your statement that "most" parents seek to preserve
government handouts. Perhaps the majority do, but there are many that see
things differently.

I can't speak for Phil, but as an advisor that has dealth with special needs
children, as well as adults, from my very first year in practice many years
ago, I know a LOT of parents that don't want their child to be a burden on
society. There are many reasons for this, and without boring everyone with
the details, let it suffice that there are PLENTY of people who do not have
their primary intent to preserve government handouts.

In certain circles, there's a very negative stigma attached to receiving ANY
government assistance, when one is capable of handling their own financial
affairs. "Special needs" doesn't automatically equal "unable to provide for
oneself." For example, there are companies that employ "special needs"
adults, so that they can lead productive lives. I know of several right here
in my hometown, and most of them do not receive any special government aid.
The employers often do this out of their own personal civic responsibility.
Even though there is "free" money available to employers such as these, it
is often ignored, even turned away (amazing how certain agencies desperate
to preserve their budgets will seek out potential beneficiaries of "free"
money, which is money taken from others via taxes).

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://www.brentdgardner.com/
http://www.gardnerfinancialgroup.com/
http://www.topgunproducers.com/

Si vis pacem para bellum!

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

Thanks,Leigh.
I am inquiring about some of those issues you have mentioned,but you did
strike a couple issues I had missed.

As a parent of a special needs child,you know that its important that we
ascertain that our children can be taken care of as much as possible,and as
much as we want to
assure their successful transition to adulthood,we also want to be sure that
they can maintain anything that we pass on to them.It sometimes seems that
we,as parents,can be limited sometimes in what we can pass on to them
because of the threat of non-qualification for the help they may need later
on.Its an issue that doesn't always seem to be addressed.

MargieMouse-
I advocate for these kids in education and civil rights-I am part of
several organisations that work to secure the rights of disabled kids from
agencies such as the education department,as well as working toward
developing that
will assure that they will be afforded all the rights that they are
guarenteed by the law,but don't get without a fight.
What I meant by that statement is that,given the current state and
direction of our government,I don't want him to depend on our present
president,or anybody else,doing the right thing.(won't go there)Many changes
to some of the laws have been made,and I want to secure his future without
depending on government programs that will probably be watered down
and/or changed before he qualifies.He functions sufficiently well to be able
to learn to make his way;If it is possible,that is what I would like him to
do.Just as any other parent would.

Phil,

You say: " I don't think he can or should ever be dependent on
ss or any other form of government assistance."

I'm interested in what you mean by this statement. Most parents who
are doing special needs planning are trying to figure out how best to
preserve eligibility for government assistance, as they do not have the
means to provide for their family member entirely on their own, yet are
not happy to think about their child living *only* on what government
benefits will provide. Special needs trusts are one way to continue to
provide some of the 'extras' that parents can, while they are alive.

I'm a fee-only financial planner with a specialization in planning for
families with special needs members. I'm not accepting new clients at
the moment, but would be happy to share general information and
suggestions.

My suggestion: Google "Letter of Intent" and start working on one,
together with your son, and as much of the rest of your family as you
can include. Your hopes and dreams for your son's future will provide
the guidelines that should shape your plan.

regards,

Thanks,Tad
I have been active in pursuing the special needs trust with
a financial advisor-I am meeting with him on the 31st.I also happen to have
another child due in March,so that figures into the picture.
I will google up special needs trust-I have some info on them already;I'm
trying to set things up now-you know-just in case.
I appreciate the responses-I will monitor this group and thread for any
more responses-Lots of great info here for people looking to make the right
decisions regarding their financial future.
thanks again-

"phil" <motyka[at]hamptons.com> wrote in message
news:34ln0nF4bhhr5U1[at]individual.net...
- quote -

You will want to have the trust documents reviewed by someone who
specializes in "Special Needs Trusts" (SNT)because any assets in your son's
name will disqualify him for benefits like medicaid until the trust is
bankrupted. Also, if you're considering sending him to college, assets in
his name will be considered (although a trust may be exempt, I'm not sure).

A special needs trust can be set up to cover what medicaid considers as
"extras", many of which would seem like essentials for most people. From
the ARC website:

The SNT can be used for various expenditures such as:



a.. Out-of-pocket medical and dental expenses
b.. Eyeglasses
c.. Annual independent check-ups
d.. Transportation (including vehicle purchase)
e.. Maintenance of vehicles
f.. Insurance (including payment of premiums)
g.. Rehabilitation
h.. Essential dietary needs
i.. Purchase materials for a hobby or recreation activity
j.. Purchase a computer or electronic equipment
k.. Pay for trips or vacations, pay for entertainment like going to a
movie, a ballgame, concert, etc.
l.. Purchase of goods and services that add pleasure and quality to life:
videos, furniture, or a television
m.. Athletic training or competitions
n.. Personal care attendant or escort
(www.thearc.org/development/whitepaper3.doc )

Leigh in raLeigh
(who also has a child with special needs)

phil wrote:
- quote -

Phil,
If you google "special needs trust" you'll find a lot of sites of
interest, not just for that type of trust, but on disability planning
generally.

And if you google that term using the google "groups" tab you should
turn up a related thread on this newsgroup from last year. Perhaps you'd
be able to contact one of the parents who posted if they aren't still
monitoring this group - I think there's a way to do so through the
google interface. It's a start anyway...

-Tad

Thanks for the reply
We have a trust fund established for him already-part of the entire
financial process.One of the things I am seeking is other parents in a
similar situation who may have specific things in mind I should do.Its a
difficult issue because of the variables,including guardianship and estate
taxes.We do have the guardianship issue taken care of,though.
I appreciate the advice on the life insurance-thats one of those mortality
issues that is so hard for parents to come to grips with when it comes to
their children.I will start researching that tommorrow.Financially,I plan to
see to it that he has enough to take care of himself,but I do have concerns
about his more distant future.
We are planning for him to attend college once he finishes school-his
disability isn't so restricting that it will limit his ability to attend
college;those are costs that could be more substantial and difficult,no
matter how well anyone plans.

You should consider establishing a trust that will provide for your son
in case you and your wife predecease him. Who would be granted custody
of him as a minor, and where he would live as an adult, are questions
that should be answered.

There must be lawyers specializing in estate planning who know how to
plan for special needs children. You need to find one. Life insurance
is also important, and its ownership can be structured in ways that
reduce or avoid the estate tax. Permanent life insurance, including
"second-to-die" life insurance, may be appropriate, since your need for
it will not vanish when your son is (say) 22. You should try to find a
life insurance agent you trust.

Good luck.

This is my first time here;be gentle with me.

I have a son who is 9 and has special needs;I am looking to devise a plan
for his future because I don't think he can or should ever be dependent on
ss or any other form of government assistance.
My wife and I are doing moderately well;we each have 401k's as well as some
very nice sums put away for our future retirements.We own our home,and have
savings in the bank.We would like to find a way to begin saving for
our childrens futures,but because of our son's situation,we are concerned
with his possible financial future.We will be grateful for any
advice,comments and thoughts on this.
thanks
phil