September 18, 2024

Andrew Smidt: Crafting Secure Financial Futures for Families with Autism – Navigating Benefits, ABLE Plans, and Special Needs Trusts

33 minutes

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Discover the critical financial strategies that can transform the lives of families with autism in our latest episode of "Why Not Me."

Join us as we sit down with Andrew Smith, an experienced financial planner who specializes in guiding families with special needs.

With a personal connection to the cause, Andrew delves into the complex world of government benefits like SSI, SSDI, and Medicaid, shedding light on how families can navigate these programs while addressing unique financial needs such as medical and travel expenses. His insights emphasize the importance of personalized planning and utilizing specialized tools to create secure financial futures.

Ever wondered how to manage the financial complexities that come with an autism diagnosis?

Andrew walks us through the essential first step of securing case management and introduces the ABLE plan—a game-changing financial tool for individuals with disabilities. Similar to a 529 college savings plan, the ABLE plan allows for savings beyond the typical asset limits without jeopardizing benefits.

Andrew explains how understanding state-specific rules and investment options can provide a hopeful and clear path forward for families, easing the emotional and financial burdens that come with such diagnoses.

Protecting assets for children with autism is a crucial task for any parent, and Andrew lays out the importance of third-party special needs trusts in this episode. Learn how these trusts can ensure that assets are managed according to the parents' wishes without disqualifying the child from necessary aid.

We also cover the role of professional trustees and the vital need for educating both clients and advisors to improve service quality.

Through Andrew's expertise, we aim to inspire and reassure families, showing them that they are not alone on this challenging, yet hopeful, journey towards a secure financial future.

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intro/outro music bed written by T. Wild

Why Not Me the World music published by Mantor Music (BMI)

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By Tony Mantor

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