Manage United Flight Financial Planning for Adult Children With Special Needs

If you’re a parent of a child with special needs, you’ve likely dedicated much of your life to researching, providing and advocating for the best care for your child. So naturally, you may worry about what will happen when you are no longer able to supervise your child’s care due to declining health, illness or death. Fortunately, there are steps you can take to help ensure your child has sufficient financial resources along with a dedicated support system. Here are six areas to help protect your child’s future.1. Include your child in the process. To the extent you’re able to, talk with your child about his or her future. If employed, is her job sustainable for the future? Does he feel comfortable managing everyday finances? Where does he naturally turn to for support? Understanding your child’s wishes and being realistic about his or her abilities will help you craft a long-term support strategy.2. Provide guardianship and decision-making support. If your child needs support making financial, legal or medical decisions, it’s important to obtain guardianship and/or conservatorship from the courts. With this authority granted, you can designate who should have this responsibility when and if you are no longer able to fulfill the role. Communicate early and often with the family members or delegate who will oversee and provide support for your child’s care, so that they know what to expect. It’s important for your delegate to know what decisions your child can make independently, and where he or she may need some assistance.


3. Create an estate plan. Establishing an estate plan is key to ensuring your wishes are followed and may help your heirs avoid probate court. Ask your financial advisor and estate planner to help you include protections for your child within your estate plan. Provide care instructions in the event of your death or if an accident leaves you unable to manage your child’s care.4. Save strategically. A tax-advantaged ABLE account, created by the Achieving a Better Life Experience Act in 2014, is one way to create a financial cushion. Earnings grow tax deferred, and funds can be withdrawn tax-free if they’re used to meet qualified expenses for your child. The law defines “qualified expenses” broadly, allowing funds to cover the costs of health care, assistive technology, housing, education, legal fees or personal support services. Anyone can contribute to the account, so that means grandparents, siblings, even family friends can help grow this nest egg. Your financial advisor can help you determine if your child meets eligibility requirements and review annual contribution limits to help you maximize this resource.5. Set up your inheritance. If you’d like to leave money to provide for your child, consider if establishing a special needs trust makes sense for your situation. Simply naming your child as a beneficiary in your estate could compromise his or her eligibility for government benefits such as Supplemental Security Income (SSI) and Medicaid. There are several types of trust accounts that allow your child to maintain government support, often by providing funds directly to a care service or through a trustee. There are advantages and considerations for each option, so consult your attorney for guidance.


6. Research living arrangements. If your child is still living at home, explore housing options that will provide a safe environment tailored to his or her abilities. Researching your options is crucial, even if you intend for your child to reside with a sibling or another family member. Circumstances such as divorce, job loss or illness could prevent the family member from providing the level of care your child needs and deserves.By addressing the areas above, you can feel more confident that your adult child will be well cared for no matter what happens tomorrow.

Fear This My Fellow Athlete

Competition is good, just as fear is good – if you will use it to your advantage rather than letting it use you. Fear can frazzle us to make mistakes, become uncertain, and anxious, but fear used to our advantage can propel us to greatness. It’s a double-edged sword. Since fear is internal, you own it, it’s yours to use as you will, if you ignore it, it might hurt you, if you use it, it can help you, give you the edge, especially in competition. How might I know this?

Well, I supposed any seasoned competitor in the human endeavor or athlete understands exactly what I am saying, but in case you need more examples to help you better understand this concept, by all means keep reading.

Recently, I read an interesting article online and watched a great video sponsored by Expert Sports Performance, the video was titled: “How Talented Athletes Deal with Fear,” by Loren Fogelman, a well-known sports psychologist.

In my view I believe that Fear is a wonderful thing, a huge driver of the human psyche, but Loren Fogelman reminds me of the truth that: “it motivates some and stops others dead in their tracks,” which is absolutely a fact.

Still, I believe that if FEAR stops someone from achieving or causes them to choke under pressure, then I would submit to you that:

1.) They don’t understand what fear is; and,
2.) They are not using FEAR as an adrenal shot for peak performance

Well, I say; too bad for them, if they are competing against me or my team. Fear can be a weakness if you let it, or high-octane when you need it, YOU decide which. “It’s all in your head” I always say. Anyway, that’s the way I see it. A great book to read is: “Feel the Fear and Do It Anyway!” published by in the 80s as a motivational type book.

As a competitive runner, I used to imagine footsteps behind me and ready to pass. Interestingly enough, I was a pretty good athlete so that didn’t happen much, but when it actually did happen it’s a sound you never forget. This imagination during competitive races propelled me to stay on pace or increase my speed opening up a large gap between me and the other runners. Sometimes when I am out training even today, I will listen to my feet hit the trail and pick up the sounds of the echo and amplify them in my brain to simulate those ever-feared footsteps, thus, propelling me to run faster and faster.