Planning for the future
It won’t necessarily be at the top of your list in the early days, but sooner or later it is essential to start planning long term for your family.
It’s important you make a plan to ensure financial security, independence and/or care arrangements for your child.
When planning take into condensation your family situation, your child’s level of needs and supports, their wants and desires for their future, any additional medical needs and of course other siblings.
Some areas to consider include:
- Make a financial plan
- Create a will
- Check your insurance needs
- Look at taxation issues and possible tax deductions
- Look into Special Disability Trusts
- Appointing a guardian or power of attorney
These matters are complex and so it is advisable to seek professional help. Talk to a financial planner and/or a specialist lawyer and seek advice on the best options to suit your family and circumstances.