Working with persons with special needs has given me the honor of meeting many resourceful, high-functioning, happy and successful people, each of whom has overcome a significant physical or mental health challenge.

Observing my clients and their families over the past 18 years I have seen common threads of positive attitude, focus on goals, and financial planning among the families of successful persons with special needs.

POSITIVE ATTITUDE:

Parents who see the positive strengths and talents of their child who has special needs build the self-esteem and confidence of a special needs child.  The parent who feels guilt that he or she did not produce a "perfect" child or who displays pity gives their child messages of hopelessness and limitation.

Twenty-five years ago a college student majoring in art was diagnosed with severe schizophrenia and her mother was told that her hospitalization would probably be for life.  Her mother transferred her daughter to a psychiatric hospital closer to home which provided her daughter with many hours of art therapy while the medical providers searched for the proper medication to treat her illness.  Today, this woman lives in the community, has her own art studio and has had her art shows written up, with positive reviews, by the New York Times.  Her paintings and her personality now bring joy to others.

FOCUS:

Successful people with special needs focus on their talents and goals.  They do not focus on their so called "disability."  An amazing example is Michael J. Mason, Ph.D.  Dr. Mason was born with cerebral palsy in New York City.  Having to deal with cerebral palsy is unfortunate, but what was fortunate was that Dr. Mason grew up in a major city with all types of services and opportunities.  Further, he had parents who saw all of their son's talents and abilities.  They were not blinded by the cerebral palsy.

Dr. Mason's parents taught him not to settle for less than his hopes and dreams.  Consequently, Dr. Mason has earned a Masters in Psychology and a Masters in Education Rehabilitation from Columbia Teachers College and a Ph.D. in Psychology and Rehabilitation from New York University.  Dr. Mason is one of the most focused individuals that I have encountered.  "Impossible" is not in his vocabulary.

Dr. Mason has dedicated his career to assisting people with special needs to realize that they each have something great to contribute to society. Each person is “special” not because of their “needs”, but because of his or her unique strengths and talents.

Dr. Mason saw financial stressors to be the greatest stumbling block in achievement of his clients’ goals. This finding led him to obtain licensure in five states to provide financial planning services to families of people with special needs.

PLANNING:

Achieving goals of education and independence cost money whether or not an individual has special needs.  What is difficult is that the costs of medical treatment on top of the normal costs of raising and educating a child puts extra stress on the parents of a child with special needs.

Financial planning for a person with special needs is three pronged:

First, all available government programs and benefits must be identified and obtained. Government benefits, such as Medicare and Medicaid, can greatly reduce the out of pocket cost of medical treatment and care.

Second: The parents should obtain sufficient insurance coverage to pay for their child’s non medical needs when the parents are no longer available to provide care and support.

Third: The parents should create a supplemental needs trust to hold the life insurance policy and any other life time gifts and inheritance received by the special needs person from friends and relatives. By holding these funds in trust, the special needs trust beneficiary will continue to be financially eligible to receive government benefits.

With relief of financial stress, the family can establish the “life” plan for the child with special needs. The life plan encompasses the child’s interests, strengths, education desires and occupational training and turns them into achievable goals for the child to attain.

If you would like more information on planning for a successful life for your special needs child, contact us: