Long Term Care Planning

Long Term Care Planning

It's never too early to plan!  This is Nevada's Care Connection's motto and this category is a vital resource for anyone thinking about the future.  Whether you are considering options for home and community based services or trying to plan for retirement and beyond, this category is sure to have information and tools that can assist you in making sure you cover all the bases.

A 2011 article that discusses how people with disabilities identify obstacles to financial security. Focus groups conducted for the Social Security Administration suggest that people with disabilities or whose children have disabilities face many roadblocks to financial planning. “Some are prevented from saving money by the demands of day-to-day survival,” said Katherine Dahlem, Senior Associate. “Others believe they have to forego paid work in order to keep their benefits.” Abt Associates conducted these focus groups as part of its work with the University of Wisconsin-Madison’s Center for Financial Security, under a contract with the Social Security Administration’s Financial Literacy Research…

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    Focus groups recently conducted for the Social Security Administration suggest that people with disabilities or whose children have disabilities face many roadblocks to financial planning. “Some are prevented from saving money by the demands of day-to-day survival,” said Katherine Dahlem, Senior Associate. “Others believe they have to forego paid work in order to keep their benefits.” Abt Associates conducted these focus groups as part of its work with the University of Wisconsin-Madison’s Center for Financial Security, under a contract with the Social Security Administration’s Financial Literacy Research Consortium. Four focus groups each were conducted with, respectively, adults receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) who work or want to work; and parents of children receiving child SSI/Medicaid benefits who are aging out of the school system (primarily 16- to 22-year-olds).

In addition to the physical and emotional demands of caregiving, providing for the present future medical and living expenses of a loved on can be financially challenging and requires planning.
Easter Seals and the National Endowment for Financial Education (NEFE) have collaborated to create a 72-page financial planning booklet for parents, caregivers, grandparents or others involved in the care of a special needs child. Included is information on estate planning, finding the right lawyer or knowledgeable financial planner, wills, special-needs trusts, government benefits, savings options, insurance plans, and other available resources. Easter Seals and NEFE encourage families tos tart financial planning when their child with a disability is at a young age.

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    Caught up in the daily responsibilities of caring for a child with a disability, parents often push financial planning to the back burner. Postponing financial planning is understandable when a child's daily needs are more pressing, but this lapse can result in someone else choosing a child's future, should parents become unable to oversee his or her care. Easter Seals and the National Endowment for Financial Education® (NEFE®) have collaborated to create a 72-page financial planning booklet for parents, caregivers, grandparents or others involved in the care of a special needs child. Included is information on estate planning, finding the right lawyer or knowledgeable financial planner, wills, special-needs trusts, government benefits, savings options insurance plans and other available resources. Easter Seals and NEFE encourage families to start financial planning when their child with a disability is at a young age. The Denver-based National Endowment for Financial Education is an independent, non-profit foundation committed to educating Americans about personal finance and empowering them to make positive and sound decisions to reach financial goals. NEFE accomplishes this mission in part through unique collaborations with other national non-profit organizations to develop tailored financial literacy materials.

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Cheyenne Pasquale
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