Families with Special Needs Children Have Special Financial Needs Enter Mary Anne Ehlert…The Financial Planner with a Special Mission www.TSNN.org

May 8, 2004--For such parents, the task of planning for their child's future may be overwhelming. How does one qualify for government benefits? Find the right residential program? Structure an estate plan? Ehlert and her caring staff—many who have disabled family members—guide parents through this stressful, complex, and heart wrenching process.

Most financial professionals are known for their analytical skills rather than their compassion. But Ehlert brings something more to the table: a firsthand understanding of the emotional and financial complexities of living with a loved one with a disability.

"My sister Marcia, who was born with cerebral palsy, changed my life forever. She helped me discover that I can make a difference in the lives of others. Families feel secure in planning with someone who knows what they're going through."

One of six siblings, Ehlert was particularly close to Marcia. A successful banking executive, she saw first-hand the difficulties her parents had in making sure Marcia would be cared for when they could no longer do so.

Meanwhile, Ehlert was becoming disillusioned with corporate life. The last straw: having to lay off hundreds of employees. In 1990, she began studying for her CFP designation and opened a home-based business geared to special needs families. Twelve years later, she has 12 employees—and more work than she could have imagined.

Although Marcia passed away several years ago, her legacy lives on.

"There's so much for families to learn," explains Ehlert. "Often, clients proudly tell us that they're setting money aside in their child's name, sometimes working two jobs."

"Unfortunately, what they're doing…is ensuring that their child won't qualify for government benefits like Medicaid and Social Security."

Families are often initially horrified when Ehlert recommends that they do not leave money directly to their child—until Ehlert explains it's an act of love. In order to qualify for Medicaid and Social Security, a child over 18 may not have more than $2,000 in his or her name. "Parents can still save those dollars, but they need to do it the right way, by establishing a Special Needs Trust. Even with government benefits, you want to leave money for haircuts, movie tickets, and extras," says Ehlert.

To guide families through such legal and financial intricacies, Ehlert has created a nine-step program, Protected TomorrowsTM. Her team of social workers, accountants, insurance experts and allied attorneys takes families through the entire planning process, from identifying needs…to applying for benefits…to creating a viable estate plan.

She has even created a unique workbook, My Special Life™, which allows parents to document their child's individual preferences and lifestyle for future caregivers.

What advice does she have for parents of a special needs child? "Start early. The toughest time is when a child ages out of the school system. There's no communication between schools and government agencies—all of a sudden, it's up to the parent." After one of her frequent speaking engagements, Ehlert is inevitably inundated by beseeching parents. "The need is huge. When you enter this world, it surrounds you."

That is why Ehlert helped create The Special Needs Network (TSNN), a not-for-profit organization dedicated to helping families obtain lifelong care for their children. The TSNN website, www.TSNN.org, is an invaluable resource that offers links to government agencies, lists of available services, current information, and down-to-earth advice. And that is why Ehlert is developing a training program—the first of its kind—that will teach other financial planners how to serve special needs families.

Over the years, Ehlert found time to serve on a number of volunteer boards, including those of the SEDOL Foundation, Clearbrook Center, and Special Olympics of Illinois Planned Giving
.
In addition to special needs families, her firm provides financial planning for children with aging parents, widows, and divorcees. In short, all her clients need special guidance—and a personal touch. "What makes us different," says Ehlert, "Is that we work with our hearts as well as our heads."

For further information or to interview Mary Anne Ehlert, please contact Lekas & Levine.




This article courtesy of http://childcarewebsites.com/.
You may freely reprint this article on your website or in
your newsletter provided this courtesy notice and the author
name and URL remain intact.

Submit Your Article