Ch. 17

Question 1

List 6 special circumstances outside a normal financial planning engagement

Answer 1

1 dependent's with special needs
2 divorce
3 terminal illness
4 nontraditional household
5 job loss or job change
6 monetary windfalls

Question 2

The social security website has significant information on…

Answer 2

Benefits for children with disabilities

Question 3

In a will for a special needs child, you should set up a…

Answer 3

Special needs trust

Question 4

Trusts are a general tool that are beneficial in many financial planning situations. Many trust benefits such as asset protection and control are appropriate considerations for a family with an individual with special needs. Which of the following is not generally associated with planning for an individual with special needs?

Answer 4

A special general advocate trust is a made up trust