Special Needs Planning Webinars 🎧: Look, Listen and Learn🤓

Posted by Haddad Nadworny on Wed, May 27, 2020 @ 07:39 AM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFAOur educational outreach continues via webinar throughout the time of the  pandemic. Please contact Alex Nadworny via email -  anadworny@affiniafg.com - to discuss an online presentation to your group.

 

Upcoming Webinars

THIS Thursday, May 28@4PM - Financial Planning with ABLE Accounts 

ABLEThis webinar will give an overview of ABLE accounts and their benefits in financial planning for individuals with disabilities. 

To RSVP, click here.

To learn more about the ABLE account, click here.

 

Wednesday, June 3@4PM- Life Insurance: Basics & Big Changes

BeneficiariesTune in on Wednesday, June 3@ 4PM for our webinar, Life Insurance: Basics & Big Changes.  This 30-minute webinar will include:

  1. Basics of life insurance, who needs it and how to get it.
  2. Trends in the Life Insurance industry.
  3. Planning strategies with life insurance.

We are pleased to welcome Joseph Sullivan, CFP®, CLU®, ChFC®, a Senior Advanced Insurance Consultant at LPL Financial, who will bring us up to date on underwriting changes that impact inforce as well as new policies and the substantial impact current ultra-low interest rates have had on premiums and pricing.

We will also share scenarios where life insurance may be used in planning for both individuals and special needs trusts.

RSVP

Tuesday, June 16@4PM-  Social Security Programs Relevant to Parents of Children with Special Needs

Social Security-1We are excited to present this webinar, given by subject matter expert and guest speaker Mark Bronstein, giving an overview of the programs offered by Social Security and where they might fit into a life plan at different stages of your child’s life.

Attorney Mark Bronstein has been representing individuals in disability benefit claims since 1980. He is a nationally recognized leader in his field and frequently writes and speaks on disability law-related topics for attorney and health professional groups, community organizations and chronic illness support groups.  RSVP

 

Tags: Special Needs Financial Planning

People + Money = Options

Posted by Haddad Nadworny on Fri, May 01, 2020 @ 02:59 PM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

Who are Your People? Please join us 🎧to find out!

your team

Tune in on Friday, May 8 @ noon for our mini-webinar, The People.  In this webinar we will lay out a step-by-step approach to identify and empower the people who will care for your child when you are no longer able to do so. Topics will include:

  • Where to begin
  • Formal and Informal roles
  • Who is on your team: Family, Community, Professionals

Join us! RSVP to Alex Nadworny @ ANadworny@AffiniaFG.com

People + Money = Options 

While physical distancing at home, focused upon keeping ourselves and our families safe and healthy, it is easy to feel vulnerable. Although the vast majority of us will come through this pandemic without damage to our health, it is time to pause, think about what is important to us and take action. 

What are the options you would want your family to have if something were to happen to you?

What decisions would provide the best situation for each family member, including your child with special needs, and for your whole family collectively?

Many times, these complicated questions do not have clear-cut answers but that should not deter you from getting started. Along the same lines, here are two tips to keep in mind as you begin to think about your plans for the future:

  • Accept the assumption that nothing, including your planning, is ever perfect and should be etched in stone.

  • Know that revisions to your planning can be made, and in fact should be made, over time.

While personal circumstances are likely to change, it is important to get started; a primary reason families fail to have a plan in place is procrastination.

A To- Do List to get started.

For many parents, their first priority is to be sure their child will be cared for when they are no longer able to do so themselves. There is no question that a comprehensive estate plan, drafted by an attorney specializing in estate planning, is the best way to ensure your wishes are completed.  However, there can be no effective estate plan without two critical pieces in place: the people and the money. 

Here’s your to-do list to get started or if you have completed your estate planning, to review. Download a copy of this list here

To do list

 

Please call us to review your options for life insurance or to discuss your beneficiary designations; we can help. We offer a complimentary phone consultation to discuss your circumstances and planning needs. 

And don't forget to tune in for Friday's webinar! RSVP to Alex

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Financial planning and investment advice offered through Affinia Financial Group, LLC, a registered investment advisor. Securities offered through LPL Financial, member FINRA/SIPC. Special Needs Financial Planning LLC, Affinia Financial Group, LLC and LPL Financial are separate entities.

 

 

Tags: Special Needs Financial Planning, Life Insurance, special needs Letter of Intent, planning for a future after parents are gone

Special Needs Trusts: FAQs & Funding 🎧

Posted by Haddad Nadworny on Wed, Apr 22, 2020 @ 07:00 AM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

Tune In!

Our webinar 🎧 this Friday @ noon will feature an Overview Of Special Needs Trusts. Included will be a definition and description of trusts, types of trusts and options for funding the trust. 

RSVP to Alex Nadworny,  anadworny@affiniafg.com .   

Special Needs Trusts: FAQs & Funding

The establishment of a special needs trust can provide a false sense of security to parents that their child will be all set. It is important to understand that it is the money💰designated to fund the special needs trust that will secure the resources for their care.

To begin, what is a special needs trust?

blur-bracelet-conceptual-female-356319A Special Needs Trust (SNT) is a legal document and a very important part of your child's long-term financial plan.  The trust may be used to hold money that (1) you have saved or that others have given to your child as gifts or (2) your child receives in a settlement.  Funds in the SNT will not interfere with your child's eligibility for federal benefits like Medicaid and Supplemental Security Income (SSI).


Who are the parties involved?
The individual who funds the trust is the Donor. The individual who benefits from the trust is the Beneficiary. The individual who oversees the trust is the Trustee. 


When should families fund the SNT?
In most circumstances the SNT is funded at the death of the parent(s) or primary care giver, rather than during their lifetime. The term used for a trust that is funded at the death of an individual is a Testamentary Trust.


Reasons for NOT funding the trust during a donor’s lifetime include:

  • Once a trust is funded, the money can only be used to meet the beneficiary’s supplemental needs. 

  • A separate tax return must be filed.

  • Taxes on any earnings must be paid by the trust. Income earned in the trust is usually taxed at a higher tax rate than an individual rate.

  • Once a trust is funded, it becomes irrevocable. This prevents you  from making any changes to the terms of the trust.

  • Overall, there is no flexibility in your plan. 

 

Reasons why one may consider funding a SNT during the lifetime of the donor as a planning strategy: 

  • If the individual funding the trust has more than enough money to meet his/her personal needs and funding the trust will not jeopardize their personal financial security.

  • The donor will have the comfort of knowing that there will be money set aside and available for the beneficiary.

  • Parents with taxable estates who are implementing strategies to reduce their estate tax liability.

  • Grandparents or others trying to reduce their taxable estate by gifting to your child – the SNT will protect the child’s eligibility for government benefits.

  • Money in the trust can provide some protection from creditors. 

  • Money directly received by the child either through an inheritance and/or a legal settlement which would otherwise disqualify them for  benefits. This would be a “payback” SNT.


Regardless of the timing decision for funding the trust, it is important to do whatever you can to makes sure there will be adequate money in the trust to provide for your child’s security. There are two steps:

  1. Identify what your child’s anticipated needs will be.
  2. Assess what steps you can realistically take to provide what is necessary in light of your other financial requirements and goals.

Learn about Special Needs Trusts

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. 

 

Financial planning and investment advice offered through Affinia Financial Group, LLC, a registered investment advisor. Securities offered through LPL Financial, Member FINRA/SIPC. Affinia Financial Group and LPL Financial are separate entities.

 

Tags: Special Needs Trusts

News: Webinar this Friday 🎧& New DDS Update on Covid 19

Posted by Haddad Nadworny on Tue, Apr 14, 2020 @ 04:03 PM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

Please Join Us 🎧!

SNFP webinarsA little knowledge is a good thing! Sign up for our 15 minute Friday webinars. This week's talk will be all about The Five Factors of Special Needs Planning. To find out more/ RSVP, please email Alex Nadworny .  

To download our flyer with additional details, click here.

 

From DDS today:

Massachusetts DDSFor the newly released COVID-19 guidance and information for DDS individuals and families,  please click here . 

 

 

 

Financial planning and investment advice offered through Affinia Financial Group, LLC, a registered investment advisor. Securities offered through LPL Financial, member FINRA/SIPC. Special Needs Financial Planning LLC, Affinia Financial Group, LLC and LPL Financial are separate entities.

 

 

Tags: Special Needs Financial Planning

Tune in to Our Special Event 🎧 & More about the CARES Act

Posted by Haddad Nadworny on Sat, Apr 04, 2020 @ 06:30 AM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

SGN from SNFP Webinars

We are proud to present SGN from SNFP - Some Good News from Special Needs Financial Planning! Lunch -1We are hosting a weekly 15 minute Lunch-n-Learn webinar series focused on actions families can take while they are at home together to help them plan for the future. 

April 10, 2020 @ 12 PM EST. National Siblings Day. 👫Honor your family member by attending our webinar, It's Time to Complete your Letter of Intent. 

There is no time like the present to complete your LOI but this is a big document; where to start and what to focus upon?  We will share tips on what your family should be thinking about when completing key areas of the LOI, as well as who should be involved, where it should be saved and how often to update it. Click the button below or email Alex Nadworny to RSVP and submit questions in advance.

RSVP HERE to attend our Letter of Intent webinar

 

More About the CARES Act: Your RMD is not R for 2020.

CARES actThe CARES Act  (Coronavirus Aid, Relief and Economic Security Act) was signed into law last week and in addition recovery rebates,  the law makes some provisions for retirement plans and accounts.
Specifically:   
  • It waives Required Minimum Distributions (RMDs) for the calendar year 2020 for IRAs, 401(k) plans, section 403(b) plans, and section 457 plans.
  • It permits coronavirus-related distributions without penalty for those who have been, or whose spouse or dependent has been diagnosed with the virus and have experienced certain adverse financial consequences as a result.
  • Plan loans have been broadened for 180 days beginning on the date of the Act to a maximum of $100,000 instead of $50,000 and an account balance limit of 100% instead of 50%.

Please contact your financial advisor to discuss what this might mean for you.  To read more about the provisions of the CARES act, click here. 

 

Tags: Letter of Intent, special needs planning workshops

The Letter of Intent: It's All Up to You

Posted by Haddad Nadworny on Fri, Mar 27, 2020 @ 09:07 AM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

Updates & News

NEW!! Our workshops are on hold but the educational outreach will continue; stay safe and stay tuned for our new series of 5 minute webinars kicking off in early April. We would like to know what's on your mind; please send us topics and questions that you would like us to cover.

Send us your questions. 

The Arc of Massachusetts 65th Anniversary Celebration has gone virtual- check out the live auction items here

The Massachusetts Down Syndrome Congress (MDSC) conference originally scheduled for March 28 at the DCU center is being reconfigured as a Virtual Annual Conference with speakers, videos and more. Stay tuned to the MDSC for more information. 

It's All Up to You

Our March installment of The Year in Special Needs Planning  focuses on Family. This crisis has pushed the pause button on many of our daily lives. Imagine if you were not able to be there for your child now, when their routine has been completely disrupted and we are asked to isolate ourselves. If you were not there, the people you have designated to care for your child would need detailed information about your child’s history and personal preferences. This information is contained in a Letter of Intent.

Complete or update your Letter of Intent NOW. Being sequestered presents an opportunity to observe and document all of the important facts about your child's care, including the easy-to-overlook small elements  of daily living that bring joy to both your lives. It also is a time to sort out and reflect upon your feelings and expectations when thinking about the future for your child. 

Send us your questions. 

Tags: special needs Letter of Intent

Talking about Covid-19 with People with Disabilities

Posted by Haddad Nadworny on Tue, Mar 17, 2020 @ 08:16 AM

The Special Needs Financial Planning Team John Nadworny, CFP, CTFA | Cynthia Haddad, CFP | Alexandria Nadworny, CFP,  CTFA

Talking to people with disabilities about Covid-19

 

Please view and feel free to share this Coronavirus plain language booklet, Covid-19 Information By and For People with Disabilities, created by Green Mountain Self- Advocates. Its target audience is people with intellectual and developmental disabilities. Simple language is also good for people with low literacy and non-native language speakers.

Click to View, Covid-19 Information By and For People with Disabilities

 

 

 

Tags: Blog

Subscribe via E-mail

Follow Me

Special Needs Financial Planning
Our Most Recent

Special Needs Financial Planning
Topics We Follow

View More