Estate & Financial Planning

What is estate and financial planning? This topic can seem overwhelming with the breadth of information available on the topic. This guide will help you get familiar with the process and prepare you to dive in deeper.

Estate and Financial planning typically go hand-in-hand but they are distinct from each other. Financial planning focuses on addressing long-term financial goals. A skilled financial planner can help customize your unique goals while mapping out a financial road map to achieve your goals. Estate planning, when conducted with the assistance of an estate planning attorney, helps protects your assets. An ideal estate plan should include a trust and living will. Estate planning may also include guardianship and conservatorship.

It is never too early to start planning for the future of your loved one. As with TSC, all estate and financial journeys are unique. There are some trusts that could potentially affect your loved one’s eligibility of benefits (e.g., Medicaid, Social Security Income, etc.), while others can be accessed for service reimbursement, leaving your loved one without a secure financial future. Having a firm understanding will help empower you to initiate the process and examine essential questions to help guide and reach your future goals giving you a peace of mind when you are no longer available to care for your loved one. MassMutual Special Care is a dedicated program that will create a holistic plan that goes beyond typical financial matters.

The Life Stages Guides are comprehensive guides that focus on the greatest non-medical concerns for each specific lifespan. Regardless of where you are at in your journey, there is a guide to help empower you and prepare you along the way covering these difficult questions, exploring options and assist in proactively guiding you to take the steps to secure these resources.

After you read the Life Stages Guides and are ready to take more action you can find additional resources at the Special Needs Alliance and for a quick, detailed understanding of special needs trusts from The National Law Review. In addition, here is a helpful article on how to initiate shared decision making with children who have a disability. For those who are active military or have been honorable discharged there could be additional benefits under the VA helpless child benefits. If you are military, you should seek additional counseling from a VA knowledgeable estate and financial planner. If you still have questions or concerns, please reach out to one of our TSC Support Navigators for additional guidance.