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THE TEN BASIC STEPS IN LIFE PLANNING
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1. |
Sit down with a Life Planning Professional and complete an
assessment Fact-Finder. This critical step defines the (Residential, Medical, Educational,
Vocational, Recreational, Legal, Religious, Daily Living and Emotional) needs and concerns
of your Special Person. |
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2. |
Write a Future Care Plan (also known as a Letter of Intent). This
is your LIFE PLAN document and it details all your hopes and expectations in writing as
guidance for Future Care Providers. |
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3. |
Recommend future Advocates or Guardians—People who will visit
and make sure your wishes are carried out. |
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4. |
Create a Family Financial Plan – to take care of the financial
needs of the Special person while also providing for the other financial objectives of the
family. |
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5. |
Select a combination of resources that will provide adequate funds for the
person’s lifetime (1-90 years). Government Benefits, family assistance,
settlements, inheritances, savings, investments and life insurance. |
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6. |
Work with an Attorney who specializes in Special Needs Estate
Planning. Have the proper Wills and Special Needs Trust established, so that resources
now and in the future protect government benefits and provide supplemental income. |
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7. |
Choose a number of Successor Trustees from relatives and friends or
select a Corporate Trustee to manage the trust funds in the future. |
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8. |
Place the Life Plan, Financial Plan and Legal documents in a Special
Life Planning Binder. |
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9. |
Have a meeting with all persons involved to review your PLAN. |
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10. |
.Review your PLAN at least once a year – update
your future care plan, financial plan and legal documents as needed. |
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LIFE PLANNING INSTITUTE CAN ASSIST YOU IN CREATING EACH ASPECT
OF YOUR LIFE PLAN, FROM THE FUTURE CARE PLAN TO FINANCIAL AND LEGAL PLANNING. WE ARE HERE
TO HELP YOU.
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