We can help you plan for providing for a disabled child after a parent’s death.
For disabled children the need for long term care is a major concern and planning for your child’s financial health is as important. Estate planning techniques applied by you may not be applicable to your child’s situation and may be inadvisable. We will help you design and plan strategies to help you plan for both your child’s long term care and financial health. Our services are structured to work with other professionals including your attorney.
Key planning considerations:
- Should a parent transfer assets during their lifetime or upon their death.
- Will this affect my child’s social security disability, Medicare and Medicaid
- How severe is the disability
- How do I treat my other children.
- How much flexibility do I have.
- How does type of assets I owned affect my planning
- Who should manage the assets. Who should be the trustee.
Key ElderCare Services
- Financial, tax and routine bookkeeping services
- Advanced planning
- Long-term care insurance
- Social security and veterans benefits
- Medicare and Medicaid
- Protecting assets
- Bill paying
- Receive and deposit cash receipts
- Submit claims to insurance companies
- Confirm accuracy of provider bills
- Protect elderly from predators by controlling checkbook and other assets
- Ensure expected revenues are received
- Income tax planning and preparation
- Prepare trust and gift tax returns
- Estate tax planning and return preparation
- Prepare employment tax returns for caregivers and household help
- Evaluate alternative costs of housing
- Review and analyze financial transactions and test for adherence to established criteria
- Review investments and trust activity and test for adherence to established criteria
- Verify third-party calculations, such as pension payments, insurance payments, and other annuity payments insurance planning