Special Needs Financial Planning
Financial planning for special needs families is not an out of the box solution. Too often entrepreneurs, executives, and their family are grouped in with mainstream investors which can result in missed opportunities, lack of appropriate planning solutions for all family members, and special needs family members at risk of losing government benefits.
As the father of special needs child our founder holds special needs financial planning near and dear to his heart. This is why he created a set of planning solutions to meet a family’s long term planning needs based on the planning work he completed for his family.
C-Suite Planning’s™ Chartered Special Needs Consultants are trained to provide comprehensive planning solutions that incorporate special needs trusts, evaluate government benefits, provide estate planning strategies, incorporate life insurance planning, work with a client’s special needs lawyer, and a lot more.
Pillar 1: Plan, Design, Analysis & Delivery™
To build a strong financial plan our team must understand the client’s status quo, their current resources, their current versus future cash flow needs, their comfort with risk, and much more. For our clients with special needs, our desired result at the completion of this Pillar Process is to outline the strengths and weaknesses of the current plan, then provide a new financial plan that outlines the future expenses of the family, and the cost of care for the family member with special needs.
Pillar 2: General Financial Planning™
Pillar Two is the start of C-Suite Planning’s 5 Core Pillar Planning Process™. In this Pillar C-Suite Planning’s team breaks down, at a very granular level, a client’s financial health. The desired result at the completion of this Pillar is to better understand what a client should be doing monthly to reduce debt, optimize savings, and fund all goals (i.e. short, intermediate, & long term). Schedule a time to speak with our team to discuss your family’s cash management needs!
Pillar 3: Insurance Planning™
To protect one’s goals, and family, a detailed assessment of their entire insurance portfolio should be completed at least once every three years. The desired result at the completion of this Pillar is provide correct coverage levels, compare diﬀerent insurance providers (as needed), and complete underwriting for new insurance (if needed). Furthermore, when preparing to support a family member with special needs extra care needs to be taken to ensure the family maintains enough coverage to fund future planning needs.
Pillar 4: Investment Planning™
Building, managing, and monitoring a portfolio is a very detailed process. Some clients prefer to delegate the responsibility of portfolio management to a professional while others prefer to accept the ongoing management responsibilities themselves. The desired result at the completion of this Pillar is to provide objective and independent research to self-directed clients in order for them to manage their own portfolio(s).
Pillar 5: Tax Planning™
As tax laws change the need to keep up with those changes is paramount. This is why the team at C-Suite Planning™ works with tax professionals to aid us in our tax planning. The desired result at the completion of this Pillar is to have a second, and sometimes third, professional review a client’s tax return and look for opportunities to lower taxes now – or in the future.
Pillar 6: Estate Planning™
The best laid plans can quickly come apart without the proper protection planning. This is why the team at C-Suite Planning™ reviews a client’s estate planning documents and shares potential planning conflicts originating from a disconnect between a client’s financial goals and the language in their documents. The desired result at the Pillar’s conclusion is to provide a client with clarity & action steps (if needed) to align their goals and documents (i.e. Special Needs Trust, Will, Health Care Proxy, and more).