For a neurodiverse family, you must have come across terms like able accounts for disabled or able account for special needs. In this article, we will explore why financial planning is important for families with special needs and why you should look into it.

As a parent or caregiver of a child or adult with autism, you may face many challenges to ensure their well-being. Creating a comprehensive special needs plan is one of the most important steps to secure their future.
What is a comprehensive special needs plan?

It is a well-researched document that outlines your child’s needs, goals, and plans ahead for their long-term care, finances, and legal arrangements. In other words, it creates a future plan for adults with disabilities.
Why should I look into special needs financial planning for my family? I can take care of them now and in future!

This may be true for your family today but have you ever thought of:

How can you ensure your child’s long-term care, when they will become adults with autism?

How can you protect the family’s assets in future?

How can you ensure that a robust financial plan will take care of child’s needs, say 20 years from now?

You should look into special needs financial planning now!
Here are 5 major reasons why creating a comprehensive special needs plan is so important:

1. Ensures your child’s needs are met

As a caregiver, you want to ensure that your child’s needs are met now and in the future. This can include medical care, therapy, education, and other services that are critical to their well-being.

At IRIS, we provide a data-driven economics approach to optimize your finances at every stage of life. With a plan in place, you can rest assured that your child will have access to the care and support they need, even if you can no longer provide it.

It all starts with you dropping us a message and we will take care of the rest.

2. Protects your child’s financial future

A robust special needs plan keeps your child’s financial needs at the centre. It takes into account government benefits, trusts, and other financial resources that can help ensure your child’s financial security in future.
By starting the planning today, you can help ensure that your child’s future is financially secure, even after you can no longer provide for them.

3. Provides peace of mind for you and your family
With a robust financial plan in place, you can relax and stop worrying about the future and can give proper time and care to your family.

It all may sound very overwhelming as of now but don’t worry as financial planning for families with special needs is what we provide at IRIS!

4. Ensures continuity of care

A comprehensive special needs plan should have information about your child’s care team and support network. Information about doctors, therapists, teachers, and other professionals who play a critical role in your child’s care should be there.

By including this information in your plan, you can help ensure that your child’s care is seamless and uninterrupted, even if there are changes to their care team.

5. Ensures your child’s wishes are met

Lastly, the plan should include information about your child’s wishes and goals.
It can contain information about their preferred living arrangements, educational goals, and other important preferences. This is to ensure that your child’s wishes are respected and that their future is aligned with their goals and aspirations.

Keep the following in mind for special needs financial planning:

Start planning early: The sooner you start planning, the more time you will have to gather information and make decisions.

Get professional help: Working with an experienced special needs attorney and financial advisor can help you create a plan that is tailored to your child’s specific needs.

Be flexible: Things change, so it is important to ensure that your plan is flexible enough to accommodate changes in your child’s needs and circumstances.

Communicate with your child: It is essential to involve your child in the planning process as much as possible. It will help them to understand their needs and how the plan will meet them.

Review your plan regularly: Your child’s needs will change over time, so it is important to review your plan regularly to ensure it is still meeting their needs.

If you have a child with special needs, it encourages you to create a comprehensive special needs plan. This is a crucial step in ensuring that your child has the resources they need to live a happy, healthy, and independent life.

Get in touch with us today and start the journey of financial independence for your neurodiverse family.

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