Special Needs Financial Planners Fayetteville AR

Read on to learn information on special needs financial planners in Fayetteville, AR 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.

Mental Health Association in NW AR
(479) 443-2143 or (479) 575-1934
PO Box 1993
Fayetteville, AR
Support Services
Support Organization

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Arkansas People First
(501) 770-4000 (Main) (888) 488-6040 (Other)
614 East Emma Avenue, Suite 235
Springdale, AR
Support Services
Other

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Doty Murphy, M.D.
(501) 659-0111
326 N. Bloomington
Lowell, AR
Support Services
DAN! Pediatrics, Medical

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Autism Support Group of NW Arkansas
PO Box 2031
Rogers, AR
Support Services
Adult Support, Marriage & Family Counseling, Marriage & Family Counseling, Support Group Meetings, Support Organization
Ages Supported
Preschool,Kindergarten,1-5 Grade,6-8 Grade,9-10 Grade,11-12 Grade,Adult

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Club Z! In-Home Tutoring of Northwest Arkansas
(479) 925-7770 or toll free 1-877-925-7770
8340 Eagle Crest
Rogers, AR
Support Services
Other

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Mental Health Association in North West Arkansas
(479) 443-2143
PO Box 1993
Fayetteville, AR
Support Services
Other, Support Organization

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Arkansas Support Network, Inc.
(479) 927-1004; (800) 748-9768
614 E. Emma Avenue
Springdale, AR
Support Services
Marriage & Family Counseling, Support Organization

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Horses for Healing (Formerly Rocky Creek Horses Help)
(479) 795-0570
1655 Dodson Rd.
Rogers, AR
Support Services
Hippotherapy (Horseback Riding), Therapy Providers

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Autism Support Group of NWA, Inc.
(479) 636-5479
PO Box 2031
Rogers, AR
Support Services
Educational Advocacy, Marriage & Family Counseling, Support Organization
Ages Supported
Preschool,Kindergarten,1-5 Grade,6-8 Grade,9-10 Grade,11-12 Grade,Adult

Data Provided By:
Autism Support Group of NWA
(479) 631-2732
po box 2031
Rogers, AR
Support Services
Support Group Meetings, Support Organization
Ages Supported
Preschool,Kindergarten,1-5 Grade,6-8 Grade,9-10 Grade,11-12 Grade,Adult

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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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