On May 14 and 15, 2012, this group of financial professionals is participating in a unique training program — Special Needs Solutions for All Ages — to become better educated on the broad range of issues that affect families with dependents having special needs. Such training gives these financial professionals a greater understanding of the concerns and goals that families grapple with, such as:

·               Ensuring quality of life for   loved one with special needs

·               Funding Special Needs Trusts

·               Saving for retirement

·               Protecting the family’s assets

There will be a training for those who would benefit from knowing there are financial professionals specially equipped to service the needs of families with special needs.  There is also a unique training to guide them.  The training 8:15 and 10:45 on Monday, May 14.  Topics include: the unique qualities of the special needs market, the role of government benefits and legal issues.

The training will be available at:  www.prudential.com\specialneeds

My name is Nina Eng, and I was recently awarded the Gold Award from the Girl Scouts of Southwest Texas in San Antonio.  The Gold Award is the Girl Scout equivalent of the Boy Scout Eagle Award, and it stresses the importance of community outreach, leadership, and advocacy.

For my Gold Award project, I partnered with the non profit organization, Dreams Fulfilled Through Music (www.dftm.org), and created a referral directory of music teachers nationwide who offer their services to children and adults with special needs.  The online directory can be found by following this link:

Gift of Music Teacher Referral Directory

Music has been an important part of my life since I was in first grade, and I feel that the benefits I have received from playing the piano should be an opportunity available to all people regardless of any special needs they may have.  I would greatly appreciate it if your organization would help me spread the gift of music to all by including this link as a music resource on your website or in your magazine.  Thank you in advance for your time and consideration.

Nina Eng

The wonderful people at Limited Cue  asked Special Needs Resource Magazine try out their Next Dollar Up ipad app and we were impressed.  It is a wondeful tool that assists students with learning Math money skills.  We not only wanted you to know about this tool but also host a giveaway to one of our subscribers!  Keep reading below and you’ll find out how you can win this app!

The inspiration for Next Dollar Up comes from the need of a classroom educator who applies academics and adaptive skills.  While looking for good money apps for the iPad, she found that many had a focus only on change and nothing on whole dollar amounts.  Serving students, whom using change is a higher concept then they can handle, she needed something that utilized a real life community shopping strategy of using the next dollar concept.

Thus Next Dollar Up was born.  The user experience of the game was designed as simple as possible to keep the focus education based.  At the same time, colorful animation and sound effects are included to make the game engaging and fun for users.  Positive reinforcers such as stars lighting up and chimes sounding follow correct answers.  Correction procedures include animated game cards highlighting the correct answer.  Gameplay includes intentional pauses allowing teachers to provide instruction to students before moving on.  Each session is comprised of ten randomly drawn cards which allow teachers an easy means to take data and track progression.  The current version includes 34 different cards rotated randomly with various price amounts up to five dollars.  We intend to offer future versions of Next Dollar Up with additional cards and dollar amounts up to ten dollars.

Next Dollar Up has been tested in a life skills classroom and what we found is that students were drawn to it as they are with many apps.  The students remained engaged, however, much more so than their experience with the homemade paper cutout versions previously used to teach the next dollar concept.  Our goal with Next Dollar Up is to aid in students gaining confidence and becoming one step closer to independence in money management.  We welcome feedback based on your readers’ experience and ask that they share comments and ratings on iTunes as well.

Do you want to win this app?  Go to the Home Page and become a subscriber to SNRMag.com and you will be entered to win!  You don’t have to do anything but subscribe.  We will randomly select one of our subscribers next Saturday 5-12-12 to win this app!

Next Dollar Up is the first app released by Limited Cue LLC, an independent mobile application developer that specializes in apps for users with severe to moderate disabilities, their families, and those who educate them.  Stories About Me, a unique iPad app which allows users to create their own social situational stories will be their second release and is expected to be available for download on iTunes in May.  Learn more at www.limitedcue.com.

There are many misconceptions in this area that result in costly mistakes in planning for these special needs beneficiaries.  It is therefore incumbent upon parents of children with special needs to understand all of their options.

MISTAKE #1:  Disinheriting the child.

Many people with disabilities rely on SSI, Medicaid or other government benefits to provide food and shelter.  Parents may have been advised to disinherit their disabled child – the child who needs their help most – to protect that child’s public benefits.  But these benefits rarely provide more than basic needs.  And this “solution” does not allow the parents to help their child after the the parent becomes incapacitated or is gone.  When a child requires, or is likely to require, governmental assistance to meet his or her basic needs, parents, grandparents and others who love the child should consider establishing a Special Needs Trust.

Planning Tip:  It is unnecessary and in fact poor planning to disinherit a child with special needs.  Clients with special needs beneficiaries should consider a Special Needs Trust to protect public benefits and care for the child during the client’s incapacity or after the client’s death.

MISTAKE #2:  Ignoring the special needs when planning for the child’s benefit.

Planning that is not designed with the child’s special needs in mind will probably render the child ineligible for essential government benefits.  A properly designed Special Needs Trust promotes the special needs person’s comfort and happiness without sacrificing eligibility.

Special needs can include medical and dental expenses, annual independent check-ups, necessary or desirable equipment (for example, a specially equipped van), training and education, insurance, transportation, and essential dietary needs.  If the trust is sufficiently funded, the disabled person can also receive spending money, electronic equipment & appliances, computers, vacations, movies, payments for a companion, and other self-esteem and quality- of –life enhancing expenses; the sorts of things your clients now provide to their child or other special needs beneficiary.

Planning Tip:  When planning for a child with special needs, it is critical that the client utilize a Special Needs Trust as the vehicle to pass assets to that child.  Otherwise, those assets may disqualify the child from public benefits and may be available to repay the state for the assistance provided.

MISTAKE #3:  Creating a “generic” special needs trust that doesn’t fit.

Even some “special needs trusts” are unnecessarily inflexible and generic.  Although an attorney with some knowledge of the area can protect almost any trust from invalidating the child’s public benefits, many trusts are not customized to the particular child’s needs.  Thus the child fails to receive the benefits that the parent provided when they were alive.

Another frequent mistake occurs when the Special Needs Trust includes a “pay – back” provision rather than allowing the remainder of the trust to go to others upon the death of the special needs child.  While these “pay – back” provisions are necessary in certain types of special needs trusts, an attorney who knows the difference can save families hundreds of thousands of dollars, or more.

Planning Tip:  A Special Needs Trust should be customized to meet the unique circumstances of the child and should be drafted by a lawyer familiar with this area of the law.

MISTAKE #4:  Failure to properly “fund” and maintain the plan.

When planning for children with special needs, it is absolutely critical that there are sufficient assets available for the special needs beneficiary throughout his or her lifetime.  In many instances, this requires utilization of a funding vehicle that can ensure liquidity when necessary.  Oftentimes permanent life insurance is the perfect vehicle for this purpose, particularly if the the parents are young and healthy such that insurance rates are low.

Also, because this is an ever-changing area, it is also imperative that the parents revisit their plan frequently to ensure that it continues to meet the needs of the special needs beneficiary.

Planning Tip:  Parents should consider permanent life insurance as the funding vehicle for special needs beneficiaries, particularly when the beneficiary is young given the often staggering costs anticipated over that beneficiary’s lifetime.

If the parents could be subject to estate tax, consider having an Irrevocable Life Insurance Trust own and be the beneficiary of the policy, naming the Special Needs Trust as a beneficiary.  Alternatively, in a non-taxable situation, consider naming a revocable trust as the beneficiary to help equalize inheritances if that is the parents’ objective.

MISTAKE #5:  Procrastination.

Because none of us knows when we may die or become incapacitated, it is important that you plan for a child with special needs early, just as you should for other dependents such as minor children.  However, unlike most other beneficiaries, a child with special needs may never be able to compensate for a failure to plan.  A minor beneficiary without special needs can obtain more resources as he or she reaches adulthood and can work to meet essential needs, but a child with special needs may never have that ability.

Planning Tip:  Parents, grandparents, or any other loved ones of a special needs child face unique planning challenges when it comes to that child.  This is one area where the parents simply cannot afford to wait to plan.

Nothing contained in this article is to be considered as the rendering of legal advice for specific cases, and readers are responsible for obtaining such advice from their own legal counsel.  This information is intended for educational and informational purposes only.

©2012, The Wiewel Law Firm.  All Rights Reserved.

The Wiewel Law Firm

512-480-8828

www.TexasTrustLaw.com

Brad Wiewel is a Board Certified Texas estate planning attorney with a state-wide practice. Mr. Wiewel is an AV Rated attorney, which is the highest distinction offered in the legal world.  He brings experience, enthusiasm and concern for his clients to the planning process.  Brad helped support himself while attending college and law school.  He received a B.A. from the University of Illinois in 1974, and graduated from St. Mary’s School of Law in San Antonio with distinction (Top 10%) in 1978.  He then served as a briefing attorney for a Texas appellate court.  Brad enjoys sharing his legal knowledge with the public. He currently teaches in the University of Texas CFP training program, and has taught continuing education classes to CPAs at St. Edward’s University.  He currently conducts education programs for financial service and insurance professionals.  He is licensed to practice law before the United States Supreme Court, United States Court of Appeals – 5^th Circuit, United States District Court – Western District of Texas, and the State Courts of Texas. He is also a graduate of the Advanced Studies in Wealth and Estate Strategies sponsored in conjunction with Michigan State University, and is the creator of LifePlanning Legal ServicesTM, which provides his clients with a formal updating program for their estate plans. Brad formerly hosted LAW TALK WITH BRAD, a weekly radio call-in show for estate planning issues. He has a very patient wife, Cindy, and they have three sons, all of whom, like Brad, are Eagle Scouts.

PROFESSIONAL AFFILIATIONS

Board Certified, Estate Planning & Probate Law

Top Rated Lawyer in Texas  – 2012

National Business Institute  – Distinguished Faculty

Wealth Counsel

Any Baby Can, Inc. (Past Board Member)

Austin Humane Society (Past Board Member)

Austin Young Lawyers Association (Past President)

Austin Bar Association (Past Board Member)

Texas Bar Foundation – Life Fellow

Texas Young Lawyers Association (Past Board Member)

Austin Financial Planners Association (Past Board Member)

Austin Society of Financial Service Professionals (Past Board Member)

Estate Planning Council of Central Texas (Past Board Member)

National Association of Insurance and Financial Advisors

Estate Planning and Probate Section –Austin Bar Assn & State Bar of Texas

Christian Legal Society (Former Texas State Membership Director)

Judge Suzanne Covington Pro Bono Service Award Recipient

Co-Founder: Austin Dispute Resolution Center

Eagle Scout

Subscribers will be sent updates to information that we feel is important in the world of Special needs education.  There will also be giveaway incentives for randomly drawn subscribers – but you can’t be entered unless you subscribe!  So join our group…..it’s free and it’s easy.

This site can be used by schools, teachers or parents and contains resources to supplement reading programs in the area of phonological awareness, phonics, vocabulary, comprehension and writing.  This site has a complete 40 week evidenced based reading intervention program.

Take a few minutes and visit this site….we know you will love it.

I want to provide you with a link to two Toolkits that are specifically designed to assist families with this initial diagnosis.  These toolkits will describe what families should do within the first 100 days after a diagnosis of Autism or Asperger’s Syndrome. Work through the kit and determine what types or services are available in your area.  Take time to investigate the newest research and interventions and make informed decisions about the next steps.

100 day Autism Toolkit

100 day Asperger’s Toolkit

Good luck to you.

An introductory monthly rate is now available.  Email Cindy@snrmag.com for additional information.

MidSouth Autism Conference

Embracing Exceptionalities Conference

An ongoing list of my public speaking engagements can be found at www.cindygolden.org