Security & Comfort – A Special Needs Plan L.I.F.E.TM Process
Price is $139.00
The L.I.F.E.™ Process is a web based planning platform that provides you with the information needed to assemble a complete strategy for you, your special needs loved one and your family. It includes 12 distinct areas.
1. Explanation of Guardianship
2. Education on Trusts
- Types of Trusts
- Using specific trusts to
§ to qualify for government benefits
3. Information on Government Benefits
- Explanation of Government Benefits such as SSI, Medicaid, SSDI
- Qualification requirements for Governments Benefits
- How to use the government benefits effectively
- When should you apply for certain benefits
- How to calculate the amount you will receive
- How does other income affect amount received from the government
- How do assets affect government benefits
4. Too Many Resources
This section will give you specific ideas on how to structure your loved one’s finances in order to qualify for government benefits
5. Financial Discovery using the L.I.F.E.™ Workbook
Dynamic section that will help you realize a clearer picture of your current financial situation as well as the financial needs of your future, your special needs loved one’s future, and your family’s future. This workbook provides a program to continually manage your family’s future and the L.I.F.E.™ needs you defined.
6. Financial Tools
- You will learn which financial products are used to help you reach your L.I.F.E.™ needs
- You will learn about various types of insurance products and how they actually work.
§ Life Insurance
1) Term
2) Permanent
o Types of permanent insurance
o When to use permanent insurance
o How to use permanent insurance
· Survivorship (Second to Die) Plans
- Mutual Funds
- Stocks
- Bonds
- Money Market Funds
- Annuities
- CD’s
- Retirement Plans like 401(k), Roth IRA, Traditional IRA
- Real Estate
- 529 Plans
This section will not only provides you the ability to begin building your strategy, but it will give you hints on how to implement that strategy, as well. In this section, you will learn:
- About the 3 Security Risks you and your family face
- How to structure your monthly budget to maximize your cash flow
- How Money truly works
- How to incorporate Comfort Programs into your strategy
- How to coordinate and organize your financial life to minimize the risks but at the same time maximize your financial results to meet your L.I.F.E™ Needs and to build Security and Comfort.
We will provide you a criteria to look for when choosing the insurance company you use for your Security Programs of Life, Disability and Long Term Care Insurance
9. Tax Tips for Special Needs Families
These tax tips are specific to special needs families. The Tax Tips detail the areas in our tax code where you may be able to save on your annual tax bill, therefore increasing your refund! (“Tax Tips” is not guaranteed to reduce your tax bill)
11. Sample Will and Sample Special Needs Trust
These will provide you a framework in crafting your own will and special needs trust. Please know that this is purely a sample and will most likely need to be adjusted based on the laws in your state of residence. Please seek legal counsel when drafting your will and trust for your specific situation.
This Notice is the final piece to the puzzle that helps to ensure that all the time and effort you put in to planning for your loved one is not wasted. This notice is a one-page template that you can complete with your personal information that notifies extended family such as well intending grandparents, aunts, uncles, siblings about your planning and instructions on how to provide any financial gifts to your loved one. The reason this is so important is because if someone in your family provides a financial gift to your loved one and they do it in the wrong way, those assets could forfeit all your loved one’s future government benefits. Keep in mind, that gift can be as little as $2,000.
Disclaimer: The information provided is general in nature. It is designed with the understanding that Ryan Platt and A Special Needs Plan, Inc. is not rendering any legal, accounting, financial or other professional advice. This information should not be used as a substitute for professional service in specific situations. If legal advice or other expert assistance is required, the service of a professional should be sought. By ordering this information you agree not to hold Ryan Platt or A Special Needs Plan, Inc. liable for any decisions you make regarding your planning strategy.
