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All too many times overwhelmed caregivers are physically and emotionally depleted and need to take time to rest and care for themselves. Believing in a holistic approach to caregiver stress and a strong commitment to helping our members find the right solutions, we created this blog to help you connect with others who, like you, may be facing the same eldercare issues and challenges. Feel free to comment, ask questions, and submit articles. Please forward the blog link to your family and friends. They'll be glad you did.

Warm regards,

Patricia Grace
founder & CEO
Aging with Grace

Monday, October 08, 2012

The importance of a special needs trust

The following is an excerpt from an excellent article that appears in the NY Times, October 5, 2012.

An estimated 6.9 million non elderly disabled people receive Social Security payments under the Supplemental Security Income program, according to federal government figures.

 For every one of those people, many of whom draw from multiple sources of government aid, there are often several family members helping to sort out the financial details of that relative’s care. They navigate a confounding thicket of tasks and rules. On one side, there is the bureaucracy that government program administrators may erect at any moment. On the other, there are specialized trust accounts and estate planning issues to consider. Even sophisticated investors and ace budget masters find themselves lost when encountering all of this for the first time.

 There are few well-marked road maps for these people, as there are for those trying to invest their 401(k) money or refinance a mortgage. But there are a growing number of financial advisers and other professionals who themselves have special needs children or siblings. Because they’ve been there, they know the practical steps that most families need to take.  

Read full article... 

1 comment:

  1. I am 77 and living on social security of $1067/mo + $67/mo food stamps. I am very thrifty (I'm learning) and I just retired from my 2nd career of 15 years (childcare) last June. After having knee replacement surgery six months ago, I will be looking for work again about May. I'm healthy, active and am grateful for what I have. My question: are there any blogs out there that are more in keeping with my situation. Only positive, upbeat people please!

    Thanks so much,

    Young 77


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