How Advisors Can Help Families With Special-Needs Children
October 16, 2019 by Andrea McGrew
Special-needs families routinely face many challenges, whether emotional, physical or financial, that can drain precious energy and resources. On a daily basis, they must often try to absorb complex information on medical issues and treatment, health insurance and educational or work accommodations; tackle issues with transportation and living spaces, and juggle an array of appointments. The breadth of these challenges is daunting but becomes more manageable with the help of a knowledgeable financial planner that can provide tools and resources for meeting the family’s financial challenges.
Many special-needs children have disabilities that require lifelong care. Financial planners can help families plan for medical care, therapy and caregiver costs as their children grow and ensure their child’s needs are met in adulthood, as well. Having a financial advisor who understands not only the importance of goals-based financial planning, but also how to secure resources, monitor relevant regulation changes and make referrals is paramount. By providing holistic financial planning services, financial planners can help shoulder the work and worry, enabling families to focus on caring for their loved ones.
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