Special Needs Family
While securing and planning for the financial future of your family is always your priority, this responsibility becomes more critical and often complex if a family member has special needs. The planning then involves taking into account intricate, nuanced and often overwhelming considerations; funding sources for their ongoing medical care (which may require arranging funds for specialized treatment), making arrangements for their housing and education, and their care after you are no longer able to provide care, for reasons of illness, incapacity or even death.
At NRI Wealth Management, we specialize in offering thoughtful, handpicked and extensive solutions to long term financial planning, all while having personal and emotional considerations in mind. This approach we take ensures that all your investments, assets, insurance policies and estate plans are coordinated in a manner that makes their functioning seamless. In the event of a change of circumstances which are significant, such as a change in eligibility for government benefits or the demise of a key family member, we are devoted to making sure that the financial systems that are put in place, continue to provide for your family without any disruption.
We understand that special needs planning is not a “one-size-fits-all” templated approach and requires crafting specialized plans that take into account the unique and specific needs of your loved ones. Our experience shows that most families often remain unaware of how certain financial decisions – such as gifting assets, naming beneficiaries and even tax obligations – can impact eligibility for various governmental schemes like the Supplemental Security Income (SSI) or Medicaid. To bridge this very gap, our team at NRI Wealth includes you in every step of the way of creating strategies and plans that lay emphasis on maximizing the access of your family to benefits, and including appropriate safeguards for their long term financial security.
Our expertise goes beyond merely developing a financial plan; we aim to enable families to navigate the complex intersection of legal requirements, public assistance programs, and private assets. We not only collaborate with your legal and medical professionals, but we also assist in identifying appropriate guardianship, trust structures, and insurance products tailored specifically for special needs care. This holistic approach ensures that every consideration is accounted for and is aligned with your objectives, whether short-term or long-term, and provides a well-organized roadmap for your family’s future stability.
We pride ourselves on incorporating emotional values and priorities that matter most to you; while we understand that financial decisions surrounding special needs are deeply personal, often bearing significant emotional weight, we aim to give you a balanced, clear and objective perspective that is based on sensitivity of the situation, so that you are empowered to make sound factual decisions. As a result, we prioritize curating thoughtful yet thorough plans which are invaluable in easing burdens during challenging times.
Over the years, we have had the privilege of working with several families who have dedicated themselves to bettering the well-being of their special needs children or relatives. We have had the good fortune of being first-hand witnesses to the transformative impact that effective planning has on such families, who often seek a sense of security and reassurance through their financial plans. For us, special needs planning is not just another aspect of our practice—it’s a deeply fulfilling part of the work that we undertake passionately. We take great pride in knowing that our guidance and support equip families with the necessary resources to navigate an uncertain future with confidence. By partnering and relying on us, you can confidently focus on what truly matters – taking the right steps towards protecting and enjoying the time you have with your family.