Special Needs Financial Planners Bakersfield CA

Read on to learn information on special needs financial planners in Bakersfield, CA and gain access to public-private funding, special needs trust establishment, traditional investments, insurance services, and special needs supplement reporting, as well as advice and content on special needs financial panning.

Kern Regional Center
(661) 327-8531
3200 N. Sillect Ave.
Bakersfield, CA
Support Services
Government/State Agency, State Resources, Regional Centers/Early Intervention Agency

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C.A.R.D. - Bakersfield
(661) 321-9700
513 W. Columbus St. Ste. A
Bakersfield, CA
Support Services
ABA, Therapy Services, Therapy Providers

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Valley Achievement Center
(661) 834-8670
7300 Ming Avenue
Bakersfield, CA
Support Services
Education, Educational Advocacy

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SoftTouch Software
(877) 763-8868
4300 Stine Road, Suite 401
Bakersfield, CA
Support Services
Products/Stores

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Kern Regional Center
(661) 327-8531
3200 North Sillect Avenue
Bakersfield, CA
Support Services
Disability Advocacy, Government/State Agency, Marriage & Family Counseling, Other, Support Organization

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CARD The Center for Autism and Related Disorders, Inc. (Bakersfield)
(661) 321-9700
513 West Clumbus Ave. Suite A
Bakersfield, CA
Support Services
Support Organization

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Center for Autism & Related Disorders, Inc. (CARD) Bakersfield, CA
(661) 321-9700
513 W. Columbus Street, Suite A
Bakersfield, CA
Support Services
ABA, Therapy Services
Ages Supported
1-5 Grade,Kindergarten,Preschool

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Pam Staiyer, MD
(661) 664-3705
8800 Ming Avenue
Bakersfield, CA
Support Services
DAN! Pediatrics, Medical

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Pam Staiyer, M.D.
(661) 664-3705
8800 Ming Ave.
Bakersfield, CA
Support Services
DAN! Pediatrics, Medical

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Sherman & Ziegler
(415) 924-1300
2740 Van Ness Ave, Suite 300
San Francisco, CA
Support Services
Lawyers (Special Education), Legal Services

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Common Mistakes Parents Make With Their Special Needs Trusts

Common mistakes parents make with their special needs trusts

Heath Burch, CFP

We meet a number of families each year that have already met with a planner in an attempt to design a special needs plan. The plans are put together with the best of intentions in hopes of providing ongoing care for their loved one with special needs. Unfortunately, many of these plans are incorrectly designed and fall short of providing the desired outcome.

The most common errors we see are often related to the drafting of a special needs trust. We'll outline below three of the most common mistakes we encounter when working with reviewing these trusts.

Each week we review a number of special needs trusts given to us by parents simply looking to confirm that what they have works. The family has done exactly what they thought they needed in that they have created a trust in order to provide ongoing care for their loved one with special needs should they no longer able to provide it. The problem is that many of these documents are put into place without the parents truly understanding what they are signing.

We've seen documents that do not successfully preserve access to benefits like social security, often the primary goal of the trust. We have encountered documents that make the state (Medicaid) the named beneficiary of any assets remaining after the child's life in cases when it is not necessary. At times we have even seen documents that ultimately disinherit a child with special needs without the parents even aware of the fact.

If you aren't certain that your legal documents are designed as you intended or worse, you aren't sure exactly what they contain, please get them reviewed by an attorney that specializes in this type of planning. It never hurts to get a second opinion and provide yourself the sense of security of knowing that you have a well-drafted, effective set of legal documents to protect your family.

In the event that you have a well-drafted special needs trust your work may not be done. If the attorney or advisor you worked with hasn't walked you through how to title all of your various assets and you haven't moved most of your assets into the trust when appropriate, or directed them to the trust through a beneficiary designation or transfer on death designation when appropriate, you aren't done.

This is not an easy task, which is exactly why so many families walk into our office without having it done. There are a lot of reasons why the titling work may not have been done. It is possible the advisor didn't want to take on the responsibility. Maybe you weren't sure how to title an asset such as your house in the trust? Or maybe you had every intention of updating your beneficiary designations, but just forgot or ran out of time?

Regardless, you must finish what you started. If the attorney or advisor that helped you with the trust hasn't helped you finish the job, it is your responsibility to find someone who can.

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