---
title: Legal & Financial Planning — Financial Planning for Two Generations
scope: TODO_SCOPE
covers:
- trust
- able
- guardianship
- estate
not_covered: []
sources:
- 20260719_Tyler_Davidson_Financial_Picture
last_updated: '2026-07-19'
token_estimate: 646
parent: https://fwmparents.org/resources/legal-financial-planning/index.md
---

# Legal & Financial Planning — Financial Planning for Two Generations

- Plan with the **Special Needs Planning Wheel**, not the traditional retirement pyramid — government benefits, risk management, legal/estate planning, community resources, transition planning, and lifetime care funding all weighted equally alongside retirement. Government benefits are often *why* you're able to retire — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- **What to look for in a financial planner:** a specialist ([ChSNC® — Chartered Special Needs Consultant](https://www.finra.org/investors/professional-designations/chsnc)), independent fiduciary advice ([CFP®](https://www.cfp.net/)), relationship-driven not transactional, aligned with your values (e.g., [USCCB-screened Catholic funds](https://www.usccb.org/about/financial-reporting/socially-responsible-investment-guidelines)), and coordinated with your full care team — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- **Inherited IRA rule:** inherited IRAs must generally be liquidated within 10 years, but a child with a disability can still stretch distributions over their lifetime at a typically lower tax bracket — consider leaving IRA assets to the child with a disability and step-up-in-basis assets (home, non-qualified accounts) to the other children — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- **Quantifying future care costs:** [National Care Advisors](https://www.nationalcareadvisors.com/) produces a full cost-of-care report (~$3,500 as presented; see the two-minute [Special Needs Map video](https://www.youtube.com/watch?v=3A5jIF_duOY)) — especially useful when weighing a job change or a move to another state, where benefits work differently — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- **Planning process:** define the ideal life for your child → score current readiness ([Lifetime Care Planning Scorecard](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/Lifetime Care Planning Scorecard.pdf)) → identify the funding gap ([Funding Needs Assessment](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/Lifetime Care - Funding Needs Assessment.pdf)) → decide whether to fund future caregivers (e.g., a monthly amount to the family member your child will live with) → coordinate with your legal and benefits team — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

---

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