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Strategies for retirement for family with special needs adult child
Old 10-12-2013, 04:20 PM   #1
Confused about dryer sheets
 
Join Date: Oct 2013
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Strategies for retirement for family with special needs adult child

Newbie here.
Just discovered this site and am learning so much already.

DH and i are late 50s (I guess we're late for early retirement!).
One child launched and self supporting.
Other has significant developmental disabilities and will likely never be independent.
She is registered and receives all available support through our state, lives with us and works in a supported employment workshop. She is incredibly social and does make tbe most of her abilities. We have legal guardianship in place and she is on the VERY long housing list.
We have established a special needs trust that will be funded when we are gone.

I wonder what else we should be pursuing to provide for her future and yet be able to retire in 5-10 years. We've been saving for retirement forever and I have a pension fron long time employment. Hope we will be ok.

Anyone here care to share ideas we should consider in relations to our special needs daughter?
Thanks in advance!
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Old 10-12-2013, 06:47 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
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Quote:
Originally Posted by momoftwo View Post
Newbie here.
Just discovered this site and am learning so much already.

DH and i are late 50s (I guess we're late for early retirement!).
One child launched and self supporting.
Other has significant developmental disabilities and will likely never be independent.
She is registered and receives all available support through our state, lives with us and works in a supported employment workshop. She is incredibly social and does make tbe most of her abilities. We have legal guardianship in place and she is on the VERY long housing list.
We have established a special needs trust that will be funded when we are gone.

I wonder what else we should be pursuing to provide for her future and yet be able to retire in 5-10 years. We've been saving for retirement forever and I have a pension fron long time employment. Hope we will be ok.

Anyone here care to share ideas we should consider in relations to our special needs daughter?
Thanks in advance!
How do you plan to fund your daughter's special needs trust when you're gone? from a life insurance policy or from your portfolio?
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Old 10-12-2013, 07:09 PM   #3
Confused about dryer sheets
 
Join Date: Oct 2013
Posts: 3
Our estate will pass one half to son and one half to DDs special needs trust.

Have thought of last to die life insurance but not seriously. Wonder if we didnt miss the boat on that one. Would it be too expensive at our ages.
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