Intro to Financial Planning & A Letter of Intent (template)

Courtesy of CPN contributor Kacy Seitz and Northwestern Mutual*

Part 1 is an Introduction to financial planning for the special needs, medically-complex child, with terms, key concepts, and financial instruments like trusts and 529Able plans.

Part 2 is a template for a Letter of Intent: a personal roadmap that enables you to gather relevant information in one place and make clear your wishes and expectations to family members and others who will assume responsibility for your child’s care when you no longer are able to do so. It is not a legal document, but it is an important one for letting your intentions and desires be known. This is a living document that should be reviewed and updated annually. This outline is intended to serve as a general guide; customize this based on the needs of your child and your family. As well, consider supplementing this with a video, copies of individualized education plans (IEP), a Medicaid waiver application or other documents that would help someone who will be caring for your dependent.

*Northwestern Mutual is not a sponsor of CPN, nor does CPN endorse Northwestern Mutual’s services in particular.