Financial Planning is essential for persons with disabilities! Start early!
Agency
Commission on Quality of Care and Advocacy
for Persons with Disabilities
http://www.cqc.state.ny.us/default.htm
This site outlines the state of New York’s commission on Quality of Care and Advocacy for Persons with Disabilities (CQCAPD) as an independent, New York State government agency charged with improving the quality of life for New Yorkers with disabilities and protecting their rights.
They are committed to do this by:
· Promoting the inclusion of people with disabilities in all aspects of community life
· Ensuring programmatic and fiscal accountability in the State's mental hygiene system
· Providing individual and systemic investigative and advocacy services
· Advancing the availability and use of assistive technology for persons with disabilities
· Offering impartial and informed advice, training and recommendations on disability issues
The CQCAPD serves as an advocate and a resource for individuals of all ages with all types of disabilities.
http://www.cqc.state.ny.us/default.htm
Article
Time is of the Essence
Financial Planning for Persons
With Disabilities by Pat Johnson
In this well written article author Pat Johnson outlines the need for and the differences between trusts. Johnson gives real life examples of how “not” having a trust impacts a person and “how” having a trust positively impacts a person’s future. For example the supplemental needs trust (SNT) which is a third party trust. This trust enables a person to use their trust money for extras like vacations and other needs without impacting their social security income. Additional information is provided regarding first party trusts, pool trusts and legal counsel.
http://www.cqc.state.ny.us/counsels_corner/cc81.htm
Brochures
Special Needs Alliance
A neat site dedicated to helping families with Financial and Life Planning for their family member with disabilities. One can find good resources and FREE brochures you can download on the following topics:
· What is a "Qualified Disability Trust" for Federal Income Tax Purposes?
· Brief Guide to Special Needs Trusts
· We Are the Special Needs Alliance
· Avoiding Legal Malpractice by Using Special Needs Trusts
· What Happens When I Turn 18?
· Selecting the Trustee
· Buying a Home for a Person with Disabilities
· Estate Planning for Parents of Children with Disabilities
· Striking a Balance With Structured Settlements
· Special Needs Trusts for Litigation Proceeds
http://www.specialneedsalliance.com/resources
The Special Needs Alliance web site is great. It is nice to know that this group of attorneys have set up an organization dedicated to the practice of disability and public benefits law. This is a wonderful resource for individuals with disabilities and their families. Also, the resources section of the site provide many links to companies who can provide financial services. The New York State CQCAPD web site provides most everything a parent or family member would need to know about individual rights. You name it, and there's a section on it (FAQ's, programs, laws, assistive technology, and webcasts). This could be a very helpful site for parents.
ReplyDelete