INCLUSIVE FAMILY
How to
inancially
is a difficult
It means facing the
always be around
not knowing what
both financially and
to come. Add the
future of a child with
concept can be
“Financial
cornerstones of
disabilities,” says
trusts for The Arc
Special Needs Trust
and her team
support for
all disabilities in
Washington, D.C.

“The biggest
the process is
navigating
When to start
When planning for
parents first need
putting aside
attorney at Bogin
who specializes in
planning and
you begin saving
“If you’re going
as part of the plan,
to get higher as you
conditions, so the
worse,” Bogin says.

and healthier
they will get on a life
Bogin quotes
72—the formula
the number of
28 WashingtonFAMILY DECEMBER 2020
F



Planning for
with Disabilities
start the process of saving
and securing support for
your child’s future
BY JACQUELINE RENFROW
for a child’s future
for many parents.

that you won’t
the uncertainty of
child will need,
for years
of planning for the
a disability, and the
overwhelming.

is one of the
for people with
Marsili, director of
of Northern Virginia
program. Marsili
trust services and
and individuals with
Maryland and
for starting
the hurdle of
systems,” she says.

invested money—when emphasizing the
need to start financially planning as soon as
possible. “The most powerful force in the
universe is compound interest,” he says.

Once parents are ready to begin the finan-
cial planning process, Bogin recommends
seeking out a seasoned professional. As an
advocate who helps parents put trusts and
wills into place, he works with financial
planners to assist families in preparing for a
multitude of needs, from who will take care
of the child (if needed) after the parents are
gone to how much this care will cost over a
span of many years.

“It’s not a do-it-yourself process,”
Bogin says. “You don’t go on the Web and
download documents and think you’ve done
a good job.” He recommends consulting
with a lawyer and financial planner who have
experience in this field.

saving During an initial trust and will meeting, an
attorney will most likely recommend putting
together a life-care plan, which is a blueprint
for providing the economic security and
services that someone with special needs will
require over his or her lifetime. This document
is evolving as circumstances changes.

Don’t panic about creating a plan, says
Ruta Kalvaitis Skučas of Darnestown,
Maryland, who has two children with special
needs. Both are now teenagers, and while one
will be able to live independently, the other
will need care for life.

“You can make changes, revisit as things
develop. Don’t get overwhelmed and put it
off—just get something down on paper,” she
says. “There are also many parts to planning:
wills, trusts, guardianship, SSI (supplementary
child with a disability,
decide when to start
Matthew Bogin, an
Firm in Chevy Chase
needs trusts, estate
suggests that
as soon as possible.

consider life insurance
are only going
Plus, people develop
will be even
the younger
are, the better value
insurance plan.

Einstein’s Rule of
used to estimate
required to double
What to expect at your meeting
MONEY: ZLISJAK/ISTOCK/GETTY IMAGES PLUS; FAMILY: SDI PRODUCTIONS/ E+