Frequently Asked Questions
1. How can a financial advisor help families with children who have special needs?
A financial advisor can help bring together everything that matters for your child's future:
- Retirement planning
- Investment management
- Life insurance
- Special Needs Trust planning
- Tax strategies
- Government benefits
- Estate planning
- Long term funding for your child's care
My role is to help families make confident decisions today while building a plan that protects the people they love for decades to come. As both a financial advisor and a mom raising children with autism, I know this isn't just about numbers. It's about creating a future where your child can keep thriving, no matter what life brings.
2. What financial planning should parents of children with special needs do first?
Start by understanding where you are today — your cash flow, retirement savings, emergency fund, insurance, estate plan, and any government benefits your child receives or may qualify for. Most parents assume the first step is opening the "right" account or buying life insurance. It isn't. That comes later, once you know your starting point.
From there, we can answer the questions that really keep parents up at night: Who will care for my child if I'm not here? Will there be enough money? How do we protect SSI and Medi-Cal or Medicaid? Are we making smart decisions today that won't create problems later? Every family is different — special needs financial planning isn't a template, it's a plan built around yours.
3. What happens to my child when I'm gone?
A thoughtful plan can help make sure your child has people you trust, financial resources available for their lifetime, and a clear roadmap for the future.
If you're a parent of a child with special needs, you've probably asked yourself this question more times than you can count. That plan might include a Special Needs Trust, life insurance, a Letter of Intent, choosing future caregivers, and selecting someone to manage finances if you're no longer able to. None of us can control the future, but we can prepare for it. That's exactly what planning is about.
4. Do I need a Special Needs Trust?
Maybe—but not every family needs one right away. A Special Needs Trust is designed to hold money for your child without putting important benefits like SSI or Medi-Cal at risk. If your child may someday receive an inheritance, life insurance proceeds, or gifts from grandparents or other family members, a Special Needs Trust is often one of the most important planning tools available. Every family's situation is different, so it's worth talking with an attorney who specializes in special needs estate planning before making that decision.
5. What's the difference between a Special Needs Trust and an ABLE account?
An ABLE account works a lot like a savings account with tax advantages. It's great for everyday disability-related expenses and can help your child build some financial independence while preserving certain public benefits. A Special Needs Trust is designed to hold larger assets like inheritances, life insurance proceeds, or significant gifts while helping protect eligibility for SSI and Medi-Cal. They're not competitors. In many cases, families benefit from using both together.
6. What is an ABLE account?
An ABLE account is a tax-advantaged savings account designed for eligible individuals with disabilities. The money can be used for qualified disability expenses like housing, education, transportation, healthcare, assistive technology, and much more. For many families, it's a great way to help a child build financial independence while preserving eligibility for certain government benefits.
7. Will an inheritance cause my child to lose SSI or Medi-Cal?
It can—which is why planning ahead is so important. If money is left directly to your child, it could affect eligibility for benefits like SSI and Medi-Cal. The good news is that with proper estate planning, inheritances can often be directed into a Special Needs Trust instead. This is also why grandparents, aunts, uncles, and anyone who wants to leave money to your child should coordinate their estate plan with yours. A simple mistake today can create unnecessary problems later.
8. What happens when my child turns 18? Consider turning your answer into a checklist
Turning 18 triggers a review across several areas at once:
- SSI eligibility
- Medi-Cal or Medicaid
- ABLE accounts
- Supported Decision-Making or conservatorship
- Transition services and vocational programs
Updates to your estate plan
That's a lot to take in, but you don't have to figure it all out at once. Starting a year or two before your child's 18th birthday gives your family time to make informed decisions instead of rushing through them.
9. How much life insurance should parents of children with disabilities have?
For many families, life insurance isn't just replacing income, it's helping fund care that may last for decades. There's no magic number. The right amount depends on your child's future care needs, your retirement savings, your existing assets, government benefits, and the support you expect your family to provide. A financial plan can help estimate what those future costs may look like so you can choose coverage with confidence.
10. Can grandparents leave money to my child?
Absolutely and the key is making sure they leave it the right way. If money is left directly to a child receiving SSI or Medi-Cal/Medicaid, it could affect those benefits. Instead, grandparents should coordinate with the family's estate planning attorney so gifts or inheritances are directed appropriately, often through a Special Needs Trust. It's a simple conversation that can save your family a lot of headaches later.
11. Can my child work and still receive SSI?
Yes, in many cases they can. Working doesn't automatically mean someone loses SSI. There are Social Security work incentive programs designed to encourage employment while helping people maintain benefits. Depending on how much your child earns, SSI payments may change, but every situation is different. Before accepting a job or increasing hours, it's worth understanding how those earnings may affect benefits.
12. Should I save for retirement or my child's future first?
You shouldn't have to choose, and that's really the goal. Your child needs financial security, but so do you. If you don't have enough for retirement, your child may eventually be responsible for helping support you. The goal is creating a plan that balances both priorities so your family is protected now and in the future.
13. What is California's Self-Determination Program?
California's Self-Determination Program (SDP) gives eligible Regional Center families more choice over the services and supports they receive. Instead of only using traditional Regional Center providers, families receive an individual budget they can use for services that better fit their child's goals.
Many families use SDP for therapies, social programs, independent living supports, community activities, coaching, camps, and other services that simply aren't available through the traditional system. As a parent navigating SDP myself, I've seen how life-changing that flexibility can be.
14. How do I choose a trustee?
There's no single right answer, only the one that fits your family. A trustee manages money for your child, follows the rules of the Special Needs Trust, and carries out your wishes long after you're gone. Some families choose a trusted family member. Others prefer a professional trustee or trust company. Many decide to use both, combining personal knowledge with professional experience.
15. How much money should I save for my child's future care?
There's no single number, since every child's needs are different. We look at things like housing, therapies, caregiving, medical expenses, inflation, government benefits, and what life may look like years down the road. The goal isn't to guess a number. It's to build a realistic plan that helps your family prepare over time instead of feeling overwhelmed today.