After eliminating the asset test in 2024, California is reversing course. The 2024–25 budget brings back limits on savings and retirement accounts for Medi-Cal eligibility, and the change could have real consequences for those who rely on this essential coverage.
Leaving a home to your child with special needs can be an act of love and protection, but it comes with real-world responsibilities and risks. Before deciding whether to transfer title outright, whether in their name or in trust, here are a few practical things to consider beyond the legal and benefits issues:
A well-crafted plan is only as strong as its implementation. By collaborating with an advisor who specializes in special needs planning, you can address unforeseen challenges and build a future that truly supports you and your loved ones. Just as you wouldn’t build a house without a trusted contractor, consider a special needs financial advisor an essential partner. Together, we can transform your plan into a lasting reality for your family.
For any future support team to be successful, we must share the years of invaluable information stored in our heads to those stepping into our shoes. The care guide plan gives us a means to do this so that the future support team has direction and knows what’s expected of them. A well-structured care guide not only acts as a roadmap to the team, but also brings peace of mind to the parent, knowing that our loved one’s unique needs will be met even in our absence.
As the calendar turns to a new year, it’s more important than ever to stay informed about the annual thresholds governing various areas of financial planning. With 2025 comes a fresh set of limits and figures that may substantially influence your financial strategies. Below, you’ll find the key numbers you should know so that you can make informed decisions and optimize financial plans for both you and your loved one with special needs in 2025.
When it comes to securing the future for loved ones with special needs, understanding the latest changes in tax law is essential. The SECURE Act 2.0, which introduced a range of new rules for inherited retirement accounts, includes provisions that could significantly impact special needs beneficiaries.