Financial Planning for your Special Needs Child

Over the past several days New England Tutors has hosted four Chamber of Commerce workshops and a free Mock SAT as part of celebrating “Back to School Preparedness Week”.   Held at both the Dover and the Portsmouth Chamber of Commerce, the “Financial Planning for your Special Needs Child: Planning to Meet a Lifetime of Needs” workshop went exceedingly well.

As a parent or caregiver of a child with special needs, everyday expenses may be higher for you and you’ll want to plan accordingly. You may be fortunate to have family or friends who help you care for your child, but you also need to know what it could cost if you don’t have those people to rely on.  Presented by Robert J. Kennelly, CFP, MBA, CRPC of AmeriPrise Financial, this workshop included general information on tax planning, financial assistance, government assistance, education expenses and more.

Robert began his presentation by asking whether you had thought about the following:

  • What you want for your child?
  • Where you stand today?
  • How to help ensure your child’s financial support?
  • Preparations for your child’s transition to adulthood?
  • Trusts or other estate planning tools?
  • How to talk to your family and friends about your plans?
  • How to reconcile “special needs” with your other financial concerns
  • DO YOU KNOW WHY YOU SHOULD?

Robert went on to tell us that people usually think of financial planning as lots of numbers and paperwork but we really need to start by focusing on our dreams and our goals.  When you have your goals clearly in mind, financial planning can help by serving as a road map to help you to get there.  Using real-life examples, Robert went through the best ways to evaluate where you stand today in regards to current income and expenses, specific points to consider (upcoming college tuition, projected retirement age, etc), forms of government assistance, and even estate planning strategies.  The program truly was in-depth and provided attendees with great insight as to where their current action plan stands with regards to their ideal action plan.

For those who were able to attend Robert made his presentation available and has given New England Tutors permission to share it with our clients as well.  Below you’ll find a link to download a PDF of Robert’s presentation – we hope this is helpful to you!

If you have any questions, please contact us!

Download Presentation

 

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