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Special Needs Family Planning Strategies

We are personally familiar with the challenges that arise from financial planning for special needs families. Kimberly Brumbaugh, Founder and CEO of the firm, has a special needs child and has walked this path herself. As your advocates, we can provide the skills and information needed to establish special needs trusts, connect you with the right attorneys and much more.

If you and your family are in this situation, we will work with you to:

  • Simplify the intricacies of Social Security and Medicaid. Government aid and benefits can be quite confusing. Through our emphasis on education and financial literacy, we will help you understand how the system works so you can be an effective and knowledgeable leader for your child.
  • Establish financial strategies to provide support for your child. To avoid jeopardizing the receipt of government assistance, it is often best to delay a special needs child from inheriting assets outright. We will help you leave funds in such a way that your child can still benefit from federal assistance.
  • Supply funding for educationDevelop a letter of intent. Caring for your child extends beyond ensuring their financial position. You also want to have confidence that the child’s caretaker understands his or her likes, dislikes and idiosyncrasies. A letter of intent provides this type of instruction and gives your child a better chance at enjoying a comfortable life. Reserve your estate.
  • Fund final expensesDecide on ongoing care. There are many options to consider when it comes to ongoing care. For instance, should a family member be the guardian? Would a friend outside the family be a stronger choice? Would group housing be most beneficial? We will help you assess your options and identify the best avenue to provide for your child’s future, and provide for extended care
  • Designate a trustee. The guardian of a special needs child is not always the ideal person to manage the child’s money. Whatever your situation, we will work with you to find the right individual for the job.

Nothing is more important than family. At Brumbaugh Wealth Management, we dedicate ourselves to promoting the lifetime care and wellbeing of your special needs family member.