Special Needs/Disability Planning - CMP Financial Planning

Social Security Benefits for Special Needs

October 31, 20200Comments

Why Taking Social Security Retirement Benefits Early Often Makes Sense for Special Needs Families

The decision as to when to start Social Security benefits is a big decision for retirees. In many cases, it makes sense for a retiree to wait to collect benefits until

by Aaron Gilliam

Retirement Income Planning

Special Needs/Disability Planning

June 10, 20200Comments

Should I Take a Withdrawal or Loan from my 401K?

Millions of Americans are facing significant financial consequences as a result of the COVID-19 pandemic. Many special needs families are particularly hard hit because of the additional burdens of caring

by Aaron Gilliam

Special Needs/Disability Planning

May 27, 20200Comments

How the Elimination of the Stretch IRA Affects Planning for Special Needs Families

One of the biggest changes resulting from the recently passed SECURE Act legislation was the elimination of the Stretch IRA provision which allowed beneficiaries to take IRA distributions over their life

by Aaron Gilliam

Retirement Income Planning

Special Needs/Disability Planning

October 29, 20190Comments

Can Social Security Benefits Be Stopped?

For millions of special needs families and individuals with disabilities, Social Security benefits provide a key pillar of regular income. I was recently made aware of a situation where, to the

by Aaron Gilliam

Special Needs/Disability Planning

October 29, 20190Comments

529 or STABLE account?

I recently gave a presentation where many questions were asked about STABLE accounts and when they might be the most appropriate savings/investment vehicle for the individual with a disability. This

by Aaron Gilliam

Special Needs/Disability Planning

October 29, 20190Comments

Should the Person with Disabilities File a Tax Return?

Tax season is almost over. If you have not filed your taxes yet you may want to refer to the prior two Disability Insight articles (Tax Tips) and (Should I

by Aaron Gilliam

Special Needs/Disability Planning

Tax Planning

March 1, 20190Comments

Should I Claim my Adult Child with a Disability as a Dependent?

By Barry Jamieson In last month’s Disability Insights, various tax issues of particular importance to individuals and families with disabilities were discussed. In this article, we take a more in depth

by Aaron Gilliam

Special Needs/Disability Planning

Tax Planning

March 1, 20190Comments

Tax Tips for Special Needs Families & Individuals with Disabilities

Tax Tips for Special Needs Families & Individuals with Disabilities By Barry JamiesonThe weary gray cold days of winter are upon is! To make things worse, with winter comes the necessary chore

by Aaron Gilliam

DDS Financial Insights

Special Needs/Disability Planning

November 23, 20180Comments

Estimating Expenses for Your Special Needs Financial Plan

By Barry Jamieson One of the more difficult tasks in establishing your special needs financial plan is estimating expenses of your adult child after he or she begins living independently from

by Aaron Gilliam

DDS Financial Insights

Estate Planning & Charitable Giving

Special Needs/Disability Planning

October 29, 20180Comments

Creating a Special Needs Financial Plan

Creating a special needs financial plan involves putting together two plans: one for the parent and one for the child with a disability. Because the combined financial plans take into

by Aaron Gilliam

DDS Financial Insights

Estate Planning & Charitable Giving

Retirement Income Planning

Special Needs/Disability Planning

September 17, 20180Comments

Planning for the Housing Needs of Your Child With a Disability

By Barry Jamieson Planning for the Housing Needs of Your Child With a Disability The current and future housing needs of a child with a disability are of particular concern to special

by Aaron Gilliam

Estate Planning & Charitable Giving

Retirement Income Planning

Special Needs/Disability Planning

August 13, 20180Comments

Do Roth Accounts Makes Sense for Special Needs Families?

Barry Jamieson, CFP®, MA Since their inception, Roth accounts have been a great saving vehicle for families planning for their retirement. This saving tool has also been a nice way for

by Aaron Gilliam

Retirement Income Planning

Special Needs/Disability Planning

July 17, 20180Comments

Should I Buy an Annuity?

by Barry Jamieson, CFP®, MA Some of you may have been on the receiving end of a sales pitch to buy an annuity. The proposition that annuities defer taxes and guarantees

by Aaron Gilliam

DDS Financial Insights

Special Needs/Disability Planning

May 14, 20180Comments

Creating a Letter of Intent

By Barry Jamieson, CFP®, MA There are many dimensions to a family’s special needs plan. Past articles in the Disability Insights series have focused on estate and financial planning topics; however,

by Aaron Gilliam

Retirement Income Planning

Special Needs/Disability Planning

April 16, 20180Comments

Retirement Planning For Three

The initial planning energies of special needs families are often on hiring an attorney to draft necessary estate planning documents (e.g., wills, trusts). Developing a solid financial plan for such

by Aaron Gilliam

DDS Financial Insights

Special Needs/Disability Planning

March 20, 20180Comments

Should You Avoid Designating Your IRA to the SNT?

By Barry Jamieson, CFP®, MA Ok, so you have established a Special Needs Trust (SNT) or you have plans to do so. You have been thinking about what assets will be

by Aaron Gilliam

Special Needs/Disability Planning

February 12, 20180Comments

How ABLE Accounts and SNTs Can Work Together

By Barry Jamieson In presentations I have recently given to special needs families about Special Needs Trusts (SNTS) it is apparent that there is still confusion about when to establish an

by Aaron Gilliam

Special Needs/Disability Planning

Tax Planning

January 17, 20180Comments

How the Tax Overhaul Bill Affects People with Disabilities

By Barry Jamieson. The tax overhaul bill passed at the end of 2017 ushered in major changes for all taxpayers including people with disabilities. Here are a few of the major

by Aaron Gilliam

Special Needs/Disability Planning

December 24, 20170Comments

Contributions from a Special Needs Trust to an ABLE Account

Special Needs Trusts (SNTs) have their advantages and disadvantages to consider in the estate planning process. The recent CMS directive regarding ABLE contributions highlights how the two planning vehicles can work

by Aaron Gilliam

Estate Planning & Charitable Giving

Special Needs/Disability Planning

July 6, 20170Comments

Choosing a Corporate Trustee

For many parents choosing someone to look after their child with a disability is the most difficult part of their estate planning process. The chosen person must not only be

by Aaron Gilliam

Estate Planning & Charitable Giving

Special Needs/Disability Planning

July 6, 20170Comments

Purchasing a Home For Your Family Member with Special Needs

As their child with a disability reaches adulthood, families give increased thought to their child’s housing needs. Many families want to promote the maximum independence of their child while others

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

Social Security and Disability Planning

If you have a special needs child who has a permanent disability, it is likely that social security benefits will be an important component of their special needs plan. Although

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

Should I Establish a Special Needs Trust?

One of the most pressing questions special needs families face with their estate planning is whether to establish a Special Needs Trust (SNT). Because individuals with disabilities are living longer,

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

Savings Account Strategies for Individuals with Disabilities

The creation of STABLE accounts in Ohio has given people with disabilities and their families a new tool to save for future expenses. In addition to STABLE accounts there are

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

Life Insurance and Special Needs Planning

The previous Disability Insights article addressed the importance of developing a comprehensive financial plan. A key component of any comprehensive financial often involves insurance. Insurance protects assets in case of premature

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

How Do I Choose a Trustee for my Special Needs Trust?

So you have decided to establish a Special Needs trust (SNT). The previous Disability Insights article mentioned that the naming of a successor trustee of an SNT is a critical appointment,

by Aaron Gilliam

Special Needs/Disability Planning

May 1, 20170Comments

Do You Have a Comprehensive Financial Plan? Comprehensive Financial Planning for Special Needs Families

What is a comprehensive financial plan, anyway? It is a plan that examines all financial aspects of a person’s life: savings, investments, retirement, taxes, public assistance, medical, insurance, etc., and

by Aaron Gilliam

Special Needs/Disability Planning

November 3, 20160Comments

Trusts and STABLE Accounts: Which One Do I Use?

Now that STABLE accounts are available to individuals with disabilities, parents and guardians often ask whether they should establish a trust for their loved one as a substitute or in

by Aaron Gilliam

Special Needs/Disability Planning

June 22, 20160Comments

How Able Accounts Fit Into Your Estate Planning Needs

How Able Accounts Fit Into Your Estate Planning Needs A presentation by Barry Jamieson. Download here:

by Aaron Gilliam

Special Needs/Disability Planning

March 15, 20160Comments

Tax Help for Families with Disabilities

Tax Help for Families with Disabilities Ohio families with individuals with disabilities will soon be able to experience tax relief for providing for their loved one. The federal Achieving a Better

by Aaron Gilliam