CMP Financial Planning

Special Needs/Disability Planning


Creating a Special Needs Financial Plan

- Oct 29, 2018

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 account the needs and goals of both the parents and the adult child with a disability there is additional complexity in producing an overall projection…

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Do Roth Accounts Makes Sense for Special Needs Families?

- Aug 13, 2018

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 families to help their children get started with their own future planning. But do Roth accounts make any sense for families with children with…

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Should I Buy an Annuity?

- Jul 17, 2018

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 growth on your investment is indeed enticing. What is not to like? Although these complex financial instruments may have a place in the financial…

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Creating a Letter of Intent

- May 14, 2018

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, as families well know, the daily considerations and routines of the child with a disability are also a key component of the special needs…

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Retirement Planning For Three

- Apr 16, 2018

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 families is equally important.  A comprehensive financial plan takes into account both the needs of the individual and the goals of the family members. While…

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How ABLE Accounts and SNTs Can Work Together

- Feb 12, 2018

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 SNT and when to start an ABLE account. Specifically people want to know: “Should I set up an SNT or an ABLE account?” The…

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How the Tax Overhaul Bill Affects People with Disabilities

- Jan 17, 2018

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 changes that could impact individuals with disabilities depending on their tax situation. Standard Deduction Increase to $12K. Starting in 2018 the new threshold…

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Contributions from a Special Needs Trust to an ABLE Account

- Dec 24, 2017

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 together for the benefit of the individual with disabilities and their families.   Before going into the details of the CMS directive, let’s first review…

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