Posted on June 4, 2018
Fiscal agents are mostly for adults living with mental and/or physical disabilities. Able-bodied and neurotypical parents of children with disabilities may assume that they have their child’s finances under control. But having a child with disabilities comes with a lot more financial responsibility than parents realize, especially parents who have never lived with a disability.
Proper health insurance can help with mounting medical bills. It’s important to understand how your child will be covered once he or she is an adult. Healthcare policies vary:
Wills are vital for every family, but they are especially important for parents who have children with disabilities. Meet with a lawyer to prepare a will that will protect your child financially. The two most important factors you need to keep in mind are:
The best advice we can offer to any family, particularly families with special needs, is to start a savings account and/or trust fund for your child as soon as possible. You can never be too prepared for unexpected emergencies.
Do you need help budget-managing regarding your child’s disability? Are you an adult living with a disability who needs assistance staying on top of your finances? At Acumen Fiscal Agent, we understand the expenses that often come with disabilities. We can help you take control of your financial life today.