Saving for retirement, saving for your child’s education, and some life insurance to provide for your spouse or child if you were to die unexpectedly, are common goals through which most people plan ahead financially. But when you have a child with special needs, the concern are much higher and there are a number of additional factors to consider. Medication, physical therapy, Occupational therapy, special schooling, and sometimes even constant care for a child who has disabilities, are fears which revolves around the life of such families.
Planning for future in families with special child revolves around two generations – for child and for themselves. Most of the time child planning takes the center stage due to financial constraint and hence other life goals like retirement & other child gets affected.Due to lack of awareness and proper guidance, such families struggles to manage their finances and makes common mistakes like making the special child nominee in insurance policies, which jeopardizes the family future. Even with families who can leave a good legacy to their child, the special child future concern remains throughout the life.
Some of the common concerns related to special children’sare
What will happen to the child after the parents?
How to provide for child long term care?
Lack of awareness on government support?
No provision of budgeting family expenses?
Lack of awareness on investments?
Appointing a guardian?
Is writing a will sufficient to pass the legacy to the special child?
Financial Planning helps in addressing concerns related to money management. By quantifying needs of the special child and other members, one can plan for the rainy days and allocate savings more wisely and with discipline. With special child there are other legal and planning issues which can be addressed if one is able to manage finances more efficiently.
At JS Financial Advisors, we aspire to help such families in planning their financial future by creating a comprehensive financial plan. Since there are non-financial needs of a special child which are equally important and are on priority, we have tied up with various experts who have gain reputation in consulting such families.
She is aqualified and experienced Occupational Therapist who is consulting families of special children for last ten years. An effective consultant, she has gained reputation by guiding such families on therapy and other needs which are required for constant care of the child.
To know more about our Financial Planning Services fix up a free session by writing to us at email@example.com or Call the planner at +919971845454.
We also conduct workshops for families with special children. Through these workshops we aim to generate awareness on benefits of financial planning and address various issues related to personal finance.
CFPCM, CERTIFIED FINANCIAL PLANNERCM, and are certification marks owned outside the U.S by Financial Planning Standards Board Ltd. Financial Planning Standards Board India is the marks licensing authority for the CFPCM Marks in India, through agreement with FPSB Ltd.