On Saturday, June 29, The Arc Mid-South hosted a financial planning workshop in conjunction with MidSouth Financial Group at The Cordova Library. Speakers for the event included Probate Judge Kathleen Gomes, attorney Beth Bradley from the law firm of Burch, Porter & Johnson, and Robert Sutton and Charles Skipper from MidSouth Financial Group. Approximately 30 families received information pertaining to understanding the long-term challenges of disability from a financial and legal point of view. The attendees had the opportunity to obtain advice from experts in the field and ask questions about options for long-term financial planning for their loved ones with disabilities.
Did you know - if proper financial and estate planning is not in place, an adult with a disability may not be eligible to receive government assistance once their parents are deceased? Did you know - guardianship is one way to determine who will assume responsibility for the adult child with a disability when their parents are gone?
Other topics included:
· Creating a Life Care Plan and communicating it to all interested parties
· Creating a letter of intent and updating it periodically
· Including yourself in the plan
· Identifying financial resources, including government benefits
· Establishing a special needs trust
· Anticipating changes when your child reaches the age of majority
The Arc Mid-South hosts several parent informational workshops throughout the year. For more information, contact Sandra Hawkins at The Arc Mid-South, (901) 327-2473.
Thanks to our sponsors:
MidSouth Financial Group,
Attorney Beth Bradley from Burch, Porter, and Johnson, PLLC &
Probate Judge Kathleen Gomes