The demands for care for individuals living with autism continue into adulthood. Adults with autism in the U.S. account for $175 billion dollars annually in expenses. For those who cannot live independent lives, residential living communities are the primary reason for the high cost of care. These facilities are often the only option for individuals whose families have grown weary after raising a child with autism. Our mission is to help do whatever we can to provide safe & sustainable life-long housing options for adults with Autism or other Intellectual Developmental Disabilities.
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As a convenience to our website visitors and with great respect and complete acknowledgment to FirstPlazeAZ and their collaboration partners, we are happy to provide a link to their groundbreaking report, A Place In The World. You read that report HERE
The article on Caring for Seniors with Autism was submitted by a thoughtful student in Chicago as part of an assignment on social and moral development in society. Our kudos to his teacher for guiding her students in topics we all need to be educated about.
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BY JOHN W. NADWORNY, CFP®, CHFC & CYNTHIA R. HADDAD, CFP ®
Help protect and improve the future lives of entire families with this essential financial planning guide, ideal for parents of a child with a disability and service providers who support them. Developed by two financial planning experts who also have family members with special needs, this one-of-a-kind book is an absolute must-have as parents and other caregivers plan for the lasting financial independence of their families.
Transforming the financial planning presentations they've given to families across the country into a thorough, easy-to-read resource, the well-known authors give parents a chronological guide broken down into four critical life stages, so readers can turn right to the section that applies to them. For each stage from birth to adulthood, parents will get comprehensive advice and strategies on how to address
Included are all the tools families need to create an effective action plan for their finances: planning checklists and forms, a helpful glossary of financial terms, "planning pointers" that help readers remember key points, and extended case studies dramatizing other families' evolving challenges and solutions. Plus, the CD-ROM in the back of the book contains a helpful Financial Planning Timeline and a printable Letter of Intent that lets parents communicate key information, concerns, and desires to future caretakers.
A book parents will use for the rest of their lives - and a necessary addition to the reference library of every service provider - The Special Needs Planning Guide will awaken families' awareness about financial planning, give them what they need to get it done, and help them turn their dreams for their future into reality.
To Order call 1-800-638-3775 (M-F, 8am -5pm), orBUY NOW at Brookes Publishing
Families with special needs children must exercise extra care in making their estate plans. This is true whether their special needs child is still a minor or now an adult, and particularly so when the child is or will be — receiving needs-based public benefits such as SSI or Medicaid in the foreseeable future. While planning considerations for such a child will vary depending upon the child’s age, competency, and other family considerations, the goal is always the same: parents want their estates utilized to enhance and enrich the lives of their special needs child while maintaining the child s enrollment in essential public benefits programs. These goals can be met through the use of a properly prepared special needs trust.
The essence of all special needs’ estate planning is to ensure that the portion of the parents' estate which passes to their special needs child at the time of their death is not considered an available asset as defined by public benefit agencies. Parents must be mindful of both income and principal, as too much monthly income, as well as too much cash, can negatively impact their child’s future eligibility for public benefits.
Special needs planning works to preserve public benefits for the disabled child while supplementing and enhancing the quality of the child's life. This type of planning is useful for many different purposes, including
The options available to families in making an estate plan for a special needs child who is receiving needs-based public benefits include the following:
Families have the option of creating a Special Needs Trust at their death by incorporating a trust within a Last Will and Testament this is called a testamentary trust.
The other option is for the parents to create a Special Needs Trust while alive — not surprisingly, this is often referred to as a living trust (or inter vivos trust). The advantages of the living trust include:
Tax considerations come into play in the decision to make the Special Needs Trust either revocable or irrevocable. Generally speaking, the family will make the trust revocable whenever:
Correspondingly, the use of an irrevocable trust may be appropriate when the family is concerned with:
Tax planning is beyond the scope of this article, so be sure to consult with your attorney, CPA or financial advisor if there are any special tax considerations in the creation of your Special Needs Trust.
The Trustee will be responsible for administering your Special Needs Trust. So selecting your Trustee is one of the most important decisions your family will make in ensuring the long-term success of your Special Needs Trust. Given the natural pressures inherent in all families, someone in your family may consider the funds in the Special Needs Trust as their money, rather than the money of your special needs child. This can be a dangerous situation, especially as to your child s continued eligibility for public benefits. In most families, it is best to consider selecting an independent, non-family member to serve as your Special Needs Trustee. The range of options includes:
The selection of any of these potential Trustees has both advantages and disadvantages. You should closely counsel with your attorney or financial advisor before making your Trustee selection.
This brief summary is just the start of your inquiry as you begin your special needs estate plan. By working closely with your attorney, your CPA, and your financial planner, you will develop a much greater understanding of the options available to you and your family in making an appropriate estate plan for your special needs child. After making your wishes known and getting the appropriate documents in place, you will have taken crucial steps in assuring that this child will receive the proper care when you are no longer able to provide that care yourself.
Contact information for a member in your state may be obtained by calling toll-free (877) 572-8472, or by visiting www.specialneedsalliance.com.