At AFP, we recognize that every family’s journey is unique. For some members of our team, this topic is personal. We have loved ones who rely on us for ongoing care or support. That perspective reinforces our belief that thoughtful financial planning is more than numbers; it’s about helping provide security, preserving opportunities, and supporting the people who matter most.
Whether you’re caring for a child with special needs, an aging parent, a spouse, or another loved one, understanding the planning tools and resources available can help you make informed decisions for the future.
Planning with the Future in Mind
Caring for someone with special needs often means thinking years, even decades, into the future. Families find themselves asking important questions about long-term care, financial security, and how to continue providing support while protecting access to essential government benefits.
No two families have the same circumstances, but understanding the options available can make these decisions feel less overwhelming. From Special Needs Trusts to ABLE accounts, the right tools can help support both long-term care and financial security.
Special Needs Trusts
One question many families ask is, “How can we set aside money for our loved one without affecting the benefits they rely on?”
A Special Needs Trust (SNT), sometimes called a supplemental needs trust, is designed to help address that concern. Instead of leaving assets directly to the individual, those funds are managed by a trustee on their behalf. Since those assets are not considered the beneficiary’s personal resources, they can often continue qualifying for important public benefits while also having financial support available for additional needs.
Trust assets may help cover expenses such as therapies, medical care, transportation, education, assistive technology, housing, recreation, and other quality-of-life needs that government programs may not fully provide.
There are several types of Special Needs Trusts, including first-party, third-party, and pooled trusts. The best option depends on each family’s circumstances, how the trust will be funded, and the individual’s overall financial and legal situation. Working with professionals who understand these complexities can help ensure the trust is structured appropriately.
ABLE Accounts
Another tool many families consider is an ABLE account. While it serves a different purpose than a Special Needs Trust, it can play an important role in an overall financial plan.
These tax-advantaged savings accounts allow individuals with disabilities to save for qualified disability-related expenses while preserving eligibility for many means-tested public benefits. Contributions grow tax-free, and qualified withdrawals for expenses such as housing, healthcare, education, transportation, and assistive technology are also tax-free.
One important change families should be aware of is that beginning in 2026, eligibility for ABLE accounts expands significantly. Individuals whose disability began before age 46 may now qualify, opening the door for many adults who previously were not eligible.
For many families, ABLE accounts and Special Needs Trusts work together. Each serves a different purpose, and together they can provide greater flexibility while helping preserve valuable public benefits.
Building the Right Team and Using Available Resources
Financial planning is only one piece of the puzzle. Families often find themselves navigating legal questions, government benefits, long-term care decisions and family conversations, all at the same time.
While every family’s needs are different, we’ve found that having experienced professionals working together can make the process much less overwhelming. As part of that team, attorneys who specialize in special needs planning can help families navigate complex legal considerations and better understand their options. Several educational booklets are also available through the Ohio Developmental Disabilities Council, written by Logan Phillips of Phillips & Graham, LLC. These booklets are for Ohio families and cover topics such as future planning, guardianship, and financial considerations. They are free and available at www.ddc.ohio.gov or www.pglawohio.com.
No single planning tool addresses every family’s needs. Bringing together financial planning, estate planning, and legal guidance can help create a coordinated strategy that supports both your loved one and your family’s long-term goals.
Looking Ahead
Thinking about the future isn’t always easy, especially when someone you love depends on you. But having a thoughtful plan in place can provide peace of mind, not just for tomorrow, but for the years ahead.
Whether you’re caring for a child with special needs, supporting a spouse or helping an aging parent, you don’t have to navigate these decisions alone. With the right guidance and a plan tailored to your family’s goals, you can move forward with greater confidence, knowing you’ve taken meaningful steps to help protect the people who matter most.