UNIQUE PLANNING REQUIREMENTS

• Create and maintain a current list of all of your assets and liabilities, including insurance policies, annuities and pensions.

• Review your retirement plan beneficiaries with particular attention if you have named a special needs trust as beneficiary. You may want to consider a corporate trustee.  They cannot outlive your child and can follow the stipulations of the trust

• Analyze the possibility of refinancing to lock in low interest rates and use your equity to plan for your child.

• Analyze the pros and cons of deferring your social security payments.

• If you are eligible for a pension, carefully analyze ALL options, this lifetime decision is permanent.

• Make provisions to protect your assets in the event you will need long term care assistance.

• Factor inflation into your planning.

• Review your current life insurance program to be sure it meets your long-term family needs. 

• Have you determined the amount of money needed to provide for your child’s lifetime needs? 

• Revisit your expected retirement age and goals considering the changing employment environment, job security and health concerns.

• Engage a Financial Advisor to help determine the most appropriate strategy to withdraw money from your savings and investment accounts.

• What is your residential plan for your child for their lifetime? Options including leaving your home to your child or funding a part-time or full-time residential program require properly executed legal and financial plans.

• Residential planning: Moving out is not the only options, consider creating proper supports in your home and ultimately have the plan evolve as your circumstances change