I am an independent financial adviser and my son has autism, I was discussing with a colleague how many financial advisers do not know how to give proper financial advice to families who have children with a disability like Autism.
- Some families may appreciate ways they can plan for their children’s future/independence by investing their PIP payments.
- Often advisers will set up protection policies until children are 18 or 21 but it may well be that a whole of life policy would be more suitable. There may be additional medical costs to consider
- Setting up of a will, many people don’t realise that a will can set out who should care for your children were you to pass away rather than being left to the local authority.
- Setting up a suitable trust. Making sure there’s Someone who will act in the best interests of your child. It can help pay for the care of your child once you pass away. It will allow them to stay in a good group home or care centre. You can make decisions about where your child lives once he reaches the point where he is ready to move out or if you can no longer care for him at home.
I was wondering if there were any other examples or financial needs which arent being addressed
Edited on March 16, 2017 - 11:03am