Financial Planning for those with Special Needs With Cynthia Haddad
Beyond The Balance Sheet Podcast
English - March 22, 2023 07:00 - 22 minutes - 41.5 MBMental Health Health & Fitness Education Self-Improvement Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Cynthia Haddad is the co-author of the book The Special Needs Planning Guide. When it was published, it was a one-of-a-kind book advising family members of a disabled person on how to do estate planning. In addition, she discusses government benefits, non-profit agencies, public education entitlement, and other helpful topics. Learn about a Letter of Intent and the elements to include. This book is in its second edition for a good reason. Don’t miss this informative episode of Beyond the Balance Sheet.
IN THIS EPISODE:
[01:41] Cynthia Haddad tells why she co-wrote the book The Special Needs Planning Guide [06:52] Cynthia suggests financial instruments that enable the disabled to inherit, and she stresses the need for an attorney [08:23] Cynthia speaks about her brother with disabilities and how that led her to research and write the book [11:15] What is the content of a letter of intent [16:27] Cynthia discusses rivalries that come about regarding inheritance not being equal for all siblings and how vital communication during the planning stages is necessary
KEY TAKEAWAYS:
Planning and prior communication should occur when a will is drafted. When resources are not divided equally, it is helpful that all family members are aware beforehand. A Letter of Intent covers personal details about the disabled family member that no one else would know but the parent. Therefore, it is an essential document. The disabled can only benefit from governmental services if the proper financial plan exists.
RESOURCES:
Beyond the Balance Sheet Website
BIOGRAPHY:
Cynthia Haddad is a Certified Financial Planner Professional and a Chartered Special Needs Consultant. She is a founding partner and wealth advisor at Affinia Financial Group in Burlington, MA. As a financial professional and advocate for her brother Ron, who has developmental disabilities, Cindy has dedicated her career to serving families like hers. She is a nationally sought-after speaker on planning for families of individuals with disabilities and co-author of the groundbreaking book, The Special Needs Planning Guide, now in its 2nd edition.