243: Tailored Financial Planning for Children with Disabilities | James Lange, CPA/Attorney, Author, & Parent of Daughter with A Disability
Parenting Impossible – The Special Needs Survival Podcast
Release Date: 08/08/2024
Parenting Impossible – The Special Needs Survival Podcast
Workshops that equip educators to support children with disabilities and engage parents are essential in bridging knowledge gaps for better care. In this episode of Parenting Impossible, Annette Hines speaks with Jenny Nechvatal, an Early Childhood Teacher, Author, and devoted parent, who shares her journey raising three children, including twin boys diagnosed with level three autism. Their conversation explores the importance of accepting children's abilities and highlights the diverse support systems available in both Australia and the U.S. Embracing and celebrating a child's unique...
info_outlineParenting Impossible – The Special Needs Survival Podcast
Parenting can be a whirlwind of chaos and imperfections, but sometimes, it's in those messy moments that growth and learning truly happens. In this episode of Parenting Impossible, Annette Hines speaks with children's author, Cynthia Di Filippo Elomaa. Cynthia embraces imperfection and chaos in parenting, emphasizing that seeking support and tailored assistance is essential while recognizing that each child learns at their own unique pace. Her inclusive educational book series, "Nikki's Very Messy Room," centers on planning, collaboration, and involving children in chores to foster...
info_outlineParenting Impossible – The Special Needs Survival Podcast
Embracing culture is more than just a statement; it's a way of life. In this episode of Parenting Impossible, Annette Hines sat down with Christa Preston, founder of Embrace Kulture, to share her journey of fostering inclusion for children with developmental and cognitive disabilities in Uganda and East Africa. Inspired by her brother, Nick, and local Ugandan child, Olivia, Christa grew the organization into a fully Ugandan-led movement that has reached over a million people, influenced national policies, and transformed inclusive education. She also highlighted #NoMoreHiddenChildren, a...
info_outlineParenting Impossible – The Special Needs Survival Podcast
Being a fiduciary is like being a financial superhero with great power and great responsibility. In this episode of Parenting Impossible, I break down the critical role of fiduciary responsibilities and how to navigate them effectively. Acting as a fiduciary goes beyond managing finances; it requires transparency, organized documentation, and a deep understanding of beneficiaries' needs to make informed decisions. Fiduciaries wield the power to make decisions that significantly impact others' lives. It’s a role that demands not only expertise but also a strong sense of duty and ethics. By...
info_outlineParenting Impossible – The Special Needs Survival Podcast
Supporting the special needs community is crucial for creating an inclusive and welcoming world for individuals with disabilities. In this episode of Parenting Impossible, I talk about the importance of intentional planning to support the special needs community and ease the anxiety that often weighs on individuals with disabilities and their caregivers. I share my experiences and how thoughtful accommodations can make all the difference as a parent. Passion is important, but real change comes from purposeful actions and planning. It’s about creating a world where everyone feels...
info_outlineParenting Impossible – The Special Needs Survival Podcast
In the ever-evolving landscape of personal and financial circumstances, regularly updating your estate plan cannot be overstated. In this episode of Parenting Impossible, I talk about why it’s so important to keep your estate plan up to date. Life happens—families change, finances shift, and you might buy a new property or start a business in another state. That’s why I recommend reviewing your plan every year and doing a deeper dive every three years, or whenever a big life event happens. From my own experience, I’ve seen how essential it is to adapt your plan so it truly reflects...
info_outlineParenting Impossible – The Special Needs Survival Podcast
Individuals with disabilities often encounter significant hurdles in accessing quality healthcare due to limited accessibility options and a scarcity of available services. In this episode of Parenting Impossible, I address the challenges individuals with disabilities face in accessing quality healthcare, including limited services and barriers like Medicaid restrictions. I advocate for policy changes to enhance resources and emphasize the importance of building community to share experiences and solutions. By shifting from a scarcity mindset to one of abundance, focusing on strengths, and...
info_outlineParenting Impossible – The Special Needs Survival Podcast
The process of planning for the future of disabled children is often overwhelming. In this episode of Parenting Impossible, I share how planning for the future of disabled children is a daunting yet essential task for their well-being and security. I talk about setting big goals for their future, including where they will live and work, who will support them, and the importance of creating a letter of intent to document their needs, routines, and preferences. I also highlight choosing trusted guardians and trustees who understand disabilities and complex systems like benefits and...
info_outlineParenting Impossible – The Special Needs Survival Podcast
The healthcare system is a battleground where profits often triumph over patient needs. In this episode of Parenting Impossible, I take a closer look at our profit-driven healthcare system after the assassination of UnitedHealthcare CEO Brian Thompson. Financial goals often outweigh patient care, with rising denials for essential treatments and CEO compensation tied to profits—creating a troubling conflict of interest. As a mom who fought tirelessly for my daughter’s Medicaid support, I know firsthand how broken this system is for families just trying to get the care they need. It...
info_outlineParenting Impossible – The Special Needs Survival Podcast
As the calendar year draws to a close, end-of-year planning becomes essential for individuals seeking to secure their personal and financial futures. In this episode of Parenting Impossible, I dive into the importance of taking control of your finances with a proactive mindset. Instead of getting stuck on setbacks, I encourage you to focus on celebrating your wins and using them as a foundation to move forward. I share practical tips on keeping your asset lists and important documents, like letters of intent, up to date—not just to avoid legal issues but to simplify life for you and your...
info_outlineParents naturally want to make sure their child with disabilities is well taken care of, both now and in the future. It's not just about meeting the day-to-day needs but also thinking ahead to their long-term financial security. There's a lot to juggle—from managing medical expenses to planning for their financial future. It can feel pretty overwhelming and complicated.
In this episode, host Annette Hines welcomes financial planning expert, James Lange, to discuss the crucial need for specialized financial planning for parents of children with disabilities. James emphasizes the importance of working with advisors who understand the unique financial needs of these families and securing government benefits like SSI or SSDI to ensure long-term support. The conversation covers essential legal documents such as wills and trusts, and James offers a free copy of his book, “Retire Secure for Parents of a Child with a Disability,” packed with strategies for financial planning. Annette and James delve into the practical and emotional aspects of financial security, reflecting on how proactive planning can provide peace of mind and a brighter future for children with disabilities.
In this episode, you will hear:
-
The importance of collaborating with specialized financial planners and tax advisors for families with children with disabilities
-
Key government benefits essential for the financial support of children with disabilities
-
The necessity of creating appropriate wills, trusts, and powers of attorney tailored for children with disabilities
-
How proper financial planning can alleviate anxiety for parents raising children with disabilities
-
Why it is important to involve the child in the financial planning process
Resources from this Episode:
Free digital copy of Retire Secure for Parents of a Child with a Disability
Website: https://DisabledChildPlanning.com
Facebook: @RothRevolution
Twitter/X: @rothguy
LinkedIn:@jameslangecpa
Other Sites:https://PayTaxesLater.com
Engage with us:
Join our community: Circle of Care
Visit: https://annettehines.com
Read Butterflies and Second Chances
LinkedIn: @annette-hines-snc
Instagram: @parentingimpossible
Facebook: @SpecialNeedsCompanies
Twitter: @SpecialNeedsCo
Follow and Review:
We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.