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5.2. Special needs trust --ABLE planning

A financial guide: Helping your child with a disability become a financially secure adult

Preparing your child for a secure financial future as an adult with a disability

If you have a child with a disability, you’ve probably asked yourself how to ensure that your child has the best life possible – not only now, but after they transition into adulthood. This means setting up tools, trusts and resources that can provide your child with long-term financial security, even if they are unable to earn a living on their own.

It also means preparing for what might happen after you are no longer there to help:

“I am the single mother of a 27-year-old intellectually disabled daughter, and this topic is the focus of my life right now,” says Sarah Farmer, a writer and marketing team member at Advocates for Human Potential. “I have spent a decade ensuring she is financially able to survive once I pass away, including getting Supplemental Security Income (SSI), guardianship, SNAP, Section 8 housing, supported living staff, a day program, connection with workforce services, whole life insurance and a special needs trust.”

Those with disabilities range widely in their abilities and preferences, and disabilities can include physical or mental impairments that substantially limit major areas of life. Helping your child with a disability transition into a financially secure adulthood might not be easy – but it’ll be worth it.

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