The Adoption and Fertility Finance Show

Protecting the Financial Future of your Special Needs Child Season 2

November 8, 2019

On the ​Adoption and Fertility Finance Show ​today, Laura interviews insurance agent Melissa Curtis from Woodall Agency Insurance in Tennessee on how to protect the financial future of special needs children.

How to Start a Special Needs Trust

Melissa breaks down the steps to setting up a special needs trust:

  • Find an attorney.
  • Get the trust together.
  • Get a financial advisor.
  • Secure mom and dad’s retirement.
  • Get a will.
  • Get life insurance.

Laura and Melissa discuss how a special needs trust protects the Social Security eligibility of the special needs child. They talk about some of the unique circumstances that must be addressed when providing for a child’s lifetime medical needs, and how important it is for parents to have this conversation before it’s too late.

Helping an Adult Special Needs Child

Melissa shares how life insurance, both whole and term, can be used to fund a special needs trust and support the adult special needs child that outlives their parents. Melissa discusses how a special needs trust can purchase life insurance so that the policy doesn’t lapse.

Melissa talks about the pros and cons of naming a child a trust beneficiary, and how to put some handcuffs on the money to protect it from the mistakes of youth.

Links mentioned in the podcast:

Woodall Agency Insurance

Woodall Agency on Facebook

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Today's Podcast Episode is sponsored by the Adoption and Fertility Grant Success Course. Click on the link to learn more. 

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