It Takes a Village | Crestwood Advisors (Concept)

More than 3 million children in the U.S. live with disabilities.* If you have a loved one with special needs, you have likely asked yourself, Who will care for them when I no longer can? How can I be sure they are supported, and their unique needs are being met?

One of the most important steps you can take is to create a strong support network, people who understand your challenges and are genuinely committed to assisting you and your family. And communication is key.

Your Crestwood team is here for you, always.

We understand that families may hesitate to ask questions or share concerns during meetings with their advisors. These conversations can be deeply personal and, at times, difficult. But avoiding them can lead to unintended consequences for the very people you are working to provide for and protect.

By opening up and sharing key details about your loved one’s unique needs, you empower your Crestwood team, and other trusted advisors and advocates, to offer thoughtful, informed and comprehensive guidance.

Crestwood helps you address your complex wealth planning needs in a number of ways, including:

• Protecting what matters with an estate plan: We work with you and your estate planning attorney to make sure you have the appropriate estate planning documents in place, including wills, powers of attorney, healthcare documents, revocable trusts, and whatever additional trust vehicles that might be advisable, i.e., special needs trusts, irrevocable gifting trusts, etc. We can also help ensure that well-meaning family members craft their estate plans with the special needs beneficiary in mind.
• Choosing the right fiduciary: Families often appoint a sibling, other relative, or friend as a trustee and/or guardian. However, putting a loved one in this situation can create undue hardship and resentment. We sometimes suggest that families consider using an independent third party to serve as fiduciary to help alleviate some of the burden. Another possibility is a hybrid approach, where an independent fiduciary serves with a family member as co-fiduciaries. Your Crestwood team can facilitate family conversations about your loved one’s care and recommend the approach that works best for you and your family.
• Creating financial clarity: Your family’s financial health starts with you. In addition to helping you plan for the care of your loved one, Crestwood will create your personalized wealth roadmap to guide your financial future.

Reach Out to Crestwood

If you have a loved one with special needs, you want the peace of mind that they will always be provided for and protected. Although you will always be your loved one’s biggest advocate, Crestwood is by your side to help every step of the way, because sometimes it takes a village.

If you have any questions about financial planning for you and your family’s unique needs, please reach out to your advisory team. And if you are not yet working with Crestwood, please contact us to start a conversation.

This document is provided for general informational purposes only by Crestwood Advisors, an investment adviser. Crestwood Advisors does not provide legal advice, and this document should not be construed as containing legal advice. For legal advice, consult with a licensed attorney. This document should not be construed as containing tax advice. For tax advice, consult with your tax adviser.

*United States Census Bureau