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Bringing You Protected Tomorrows Your Journey Through an Eight Step Special Needs Planning Program

Bringing You Protected Tomorrows Your Journey Through an Eight Step Special Needs Planning Program. Presented by Mary Anne Ehlert, CFP ® Sister of Marcia Wallace . Mary Anne & Marcia. An Entire Network of Advocates. A Unique, Eight-Step Planning Program….

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Bringing You Protected Tomorrows Your Journey Through an Eight Step Special Needs Planning Program

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  1. Bringing You Protected Tomorrows Your Journey Through an Eight Step Special Needs Planning Program Presented by Mary Anne Ehlert, CFP® Sister of Marcia Wallace

  2. Mary Anne & Marcia

  3. An Entire Network of Advocates

  4. A Unique, Eight-Step Planning Program…

  5. Solutions for Everyone

  6. Think Tank

  7. Our Goal Today To create awareness … so you take action

  8. Stage 1 Take a Candid LookTM

  9. Stage 2 Create the Future Map™

  10. Have you doneyour financial planning?

  11. How much money will you need for your family member with special needs?

  12. Recreation Education Medical Other Work Other Family Living Insurance Savings Benefits Create the Vision

  13. Stage 4 Capture Potential Benefits™

  14. The Benefits Circle Entitlement

  15. The Benefits Circle Need Based

  16. The Benefits Circle Cash

  17. The Benefits Circle Healthcare, Workshops, Job Coaching, Residential, etc.

  18. Entitlement - Cash Income Rules Entitlement SSDI SSA Healthcare, Workshops, Job Coaching, Residential, etc. Cash Need Based

  19. Entitlement - Healthcare Income Rules Entitlement SSDI SSA Healthcare, Workshops, Job Coaching, Residential, etc. Medicare Cash Need Based

  20. Need - Cash Entitlement Healthcare, Workshops, Job Coaching, Residential, etc. Cash SSI Income and Asset Rules Need Based

  21. Need - Healthcare Entitlement Healthcare, Workshops, Job Coaching, Residential, etc. Cash Medicaid/Medi-Cal SSI Income and Asset Rules Need Based

  22. Government Benefit Programs Income Rules Entitlement SSDI SSA Healthcare, Workshops, Job Coaching, Residential, etc. Medicare Cash Medicaid/Medi-Cal SSI Income and Asset Rules Need Based

  23. Know Your Benefits Sample Social Security Statement (partial) Your Estimated Benefits At your full retirement age (65 years), your payment would be about… $1,000 a month *Retirement If you get retirement or disability benefits, your spouse and children also may qualify for benefits. *Family You have earned enough credits for your family to receive survivors benefits. If you die this year, certain members of your family may qualify for the following benefits. *Survivors Your child…. $700 a month Total family benefits cannot be more than… $1,700 a month

  24. Helpful Hints • Learn the group health insurance laws for your state • Beware: self-insured plans not subject to state law • Know your social security benefits • Be sure to keep your annual statement • Benefits change–keep up with the laws

  25. How do you do it?

  26. Stage 3 Filter the Legal Options™

  27. Avoid giving gifts/inheritance Directly to person with disabilities To Siblings, with an understanding To traditional Spendthrift Support Trust

  28. There is a solution! The Discretionary 3rd Party Special Needs Trust

  29. Things to talk to your attorney about

  30. For the benefit of only 1 individual with special needs. • Used for supplemental care costs Only • Must be Irrevocable . . . but amendable. More things to talk to your attorney about

  31. How should your attorney setup the trust? • Not IN your will • Not IN your living trust

  32. Ask your attorney fora separate document • established now, to allow: • Grand-fathering • Piggy-backing

  33. How do you put moneyinto the trust?

  34. 1 - Inheritance • Wills & trusts • Life insurance • 401Ks • IRAs

  35. 2 – Savings on Behalf of PWD To: Trustee Of Trust Avoid giving gifts/inheritance directly to PWD

  36. What if the PWD has orreceives money directly? • Talk to your attorney about: • “Oops” Trust • OBRA 93 Trust • Payback Trust PWD-Person with Disabilities

  37. How do you start? Find an attorney with special needs expertise! www.ProtectedTomorrows.com PT Live!

  38. The Alternatives • Meet with your attorney to discuss… • Do nothing • Invoke power of attorney rights • Guardianship/Conservatorship

  39. Stage 5 Document the Wonder™ Family Communication is essential

  40. “What about residential?”

  41. “What about employment?”

  42. “What about medical care?”

  43. “What about his/her social life?”

  44. Don’t forget routines? “I always use “Don’t move the red cup” my glasses” “Buzzwords/ pet expressions” “That’s my favorite chair”

  45. Guidance & Instructions For Future Care People, Money People, & Care Providers. My Special Life™ Write it ALL Down!

  46. My Special Life®Online

  47. Share it with the family

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