The Adoption and Fertility Finance Show
Business:Investing
On the Adoption and Fertility Finance Show today, Laura interviews insurance agent Melissa Curtis from Woodall Agency Insurance in Tennessee on how to protect the financial future of special needs children.
How to Start a Special Needs Trust
Melissa breaks down the steps to setting up a special needs trust:
Laura and Melissa discuss how a special needs trust protects the Social Security eligibility of the special needs child. They talk about some of the unique circumstances that must be addressed when providing for a child’s lifetime medical needs, and how important it is for parents to have this conversation before it’s too late.
Helping an Adult Special Needs Child
Melissa shares how life insurance, both whole and term, can be used to fund a special needs trust and support the adult special needs child that outlives their parents. Melissa discusses how a special needs trust can purchase life insurance so that the policy doesn’t lapse.
Melissa talks about the pros and cons of naming a child a trust beneficiary, and how to put some handcuffs on the money to protect it from the mistakes of youth.
Links mentioned in the podcast:
Woodall Agency Insurance
Woodall Agency on Facebook
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Today's Podcast Episode is sponsored by the Adoption and Fertility Grant Success Course. Click on the link to learn more.
So many couples that have started the adoption journey become overwhelmed with the amount of money that they need to save for the process. It can be so discouraging. With knowledge comes power. At Family Money Coaching, we believe in Debt-Free Adoption. That's why we created the Grant Success Course, to help you find, apply, and obtain FREE money. It'll take some work, but you can do it. The worksheets, excel downloads, checklists, and videos in the Grant Success Course will help guide you on what to put in your grant applications. Ideas will be sparked by the questions in the downloadable PDF, success tips with what to look for to find the ideal grant for you, a list of 80 grants for adoption and 20 grants for fertility, a checklist to help you stay on task, and a list of documents needed for application.
There's a bonus Adoption Financial Planner that will provide tracking for your Adoption Budget, the ICPC travel budget, Spending Plan which is needed for the home study and grant, tracking income sources, calendar to help with due dates, budget estimator, and a place for all contacts during the adoption process.
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