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Financial Planning for Special Needs Kids

What your family needs to know about financial planning for special needs kids

Financial planning for special needs kids is a vital part of being a parent if you have a child with special needs. Same-sex couples are far more likely to adopt or foster a special needs child than our straight counterparts. Here’s what they should know. 

Hear an expert, Minoti Rajput’s, advice on financial planning for special needs kids

Meet Minoti

Minoti Rajput is the founder and principal advisor at Secure Planning Strategies, a nationally-recognized independent wealth management firm that specializes in supporting women, business owners, retirees and special needs families. Minoti is a Certified Financial Planner and Chartered Special Needs Consultant (ChSNC) with 30-plus years of experience and an MBA in finance, and she is passionate about providing estate and financial planning solutions for families of children with special needs.

Minoti joins us to share the circumstances that inspired her to focus on special needs families and discuss the value of the ChSNC designation. She defines what it means to be special needs and gives us a high-level overview of the government benefits available to individuals with cognitive impairment, mental illness or acquired disability. Hear Minoti’s advice on planning, including financial planning, and for queer couples adopting a special needs child.

Topics covered about financial planning for special needs kids 

The Chartered Special Needs Consultant designation 

  • Understand government benefits
  • Empathy/compassion for the situation

What inspired Minoti to focus on special needs families

  • Looking to add a meaningful specialty to practice
  • 3 families with adult children with special needs

How Minoti defines ‘special needs children’

  • Cannot take care of self (financially or otherwise)
  • Cognitive impairment, mental illness or acquired disability

How to prepare for adopting a child with special needs

  • Recognize that challenges won’t go away
  • Consider day-to-day caregiving, education

When most parents of special needs children start to plan for the future

  • School initiates transition coordination when a child turns 16
  • Qualify for government benefits at 18, leave school at 21/22

Special considerations in financial planning for special needs children

  • Calculate financial needs in event of either partner’s death
  • Consider acquiring a second-to-die insurance policy

The government benefits available to individuals with special needs

  • Documented disability + < $2K in assets to qualify for SSI ($770/month)
  • Medicaid to cover caregiving, supported employment, medication, etc.

Minoti’s advice for LGBTQ couples considering adopting a special needs child

  1. Start legal and financial planning from day one
  2. Get involved in special needs community
  3. Learn to let go when the time is right
  4. Prepare detailed Special Needs Letter of Intent

Connect with Minoti

Resources for special needs planning 


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