Consider my client, Meghan. She’s a doctor with two sons, one of whom has schizophrenia. Because of the severity of his condition, he has to live in a mental health home where he can receive 24/7 access to health care professionals. They also receive aid from their state because of her son’s diagnosis and inability to work or care for himself. Meghan pays the remainder of the cost out of her current savings.
When Meghan came to us, she was scared of the unknowns her son might face when she’s gone. So, we got real with her. We asked her what worried her the most. As with all of our clients, we told Meghan that the more honest she was upfront, the more we’d be able to help.
Meghan’s greatest fear was what would happen when she passed away, and her son had no provider. She was terrified of her son being alone without a safety net. She wanted to ensure a secure and stable financial transition for her son should anything happen to her. So, we took her list and brought clarity and awareness to every single one of her concerns. Together, we analyzed what could go wrong and discussed solutions for each potential obstacle.
Knowing Meghan’s Unique Story and her fears, we worked with our attorney partners, who established a Special Needs Trust. The trust guarantees that Meghan’s son continues to receive the same level of care once she’s gone and that his state benefits will not be uninterrupted. The trust also allows Cedar Brook to help guide her son’s financial plan in the future, too. Meghan wants to know that powerful allies are in her son’s corner after she’s gone, and we take that responsibility seriously.
The hardest part for Meghan was being vulnerable enough to discuss her fears with us. But in doing just that, she received the peace of mind knowing she’s now doing everything she can. She’s controlling the controllable. Now, she’s in the driver’s seat instead of feeling like the unknowns are guiding her life.