Special Needs Financial Planning: 3 Core Tools for Parents

Special needs financial planning often involves two generations at once: funding your own retirement while also planning for what may be many decades of support for your child. In this video, Colin Meeks, CFP® walks through three tools families commonly use and the mistakes that can put government benefits at risk.

One common mistake is leaving money directly to a child who receives benefits. The countable resource limit for SSI is $2,000 for an individual (as of January 2026, per the Social Security Administration's Understanding Supplemental Security Income, 2026 Edition). Assets above the limit can affect eligibility for SSI and for Medicaid waiver programs, depending on state rules.

The three tools Colin covers are a special needs trust, an ABLE account and a letter of intent. The trust and the ABLE account serve different purposes and each carries trade-offs, including cost, attorney involvement and state rules. The letter of intent records routines, medical care and personal hopes so future trustees and caregivers know your child. For how the first two compare, see ABLE account vs. special needs trust and our special needs planning hub.

Colin does not provide legal advice or draft legal documents. Trusts are drafted by a special needs attorney, and he coordinates with your family's own attorney and tax advisor. If you would like to talk it through, you can schedule a 15-minute call.