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SCOTUS skeptical that state abortion bans conflict with federal health care law; Iowa advocates for immigrants push back on Texas-style deportation bill; new hearings, same arguments on both sides for ND pipeline project; clean-air activists to hold "die-in" Friday at LA City Hall.

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"Squad" member Summer Lee wins her primary with a pro-peace platform, Biden signs huge foreign aid bills including support for Ukraine and Israel, and the Arizona House repeals an abortion ban as California moves to welcome Arizona doctors.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

Special Needs Children Need Lifelong Financial Planning

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Monday, June 20, 2011   

COLUMBUS, Ohio - Over the course of a lifetime, it can cost more than $3 million to care for a person with autism, according to a study published by Harvard University. So when it comes to mapping out plans for a child's future, experts say, the sooner the better.

Lynn Tramontano, a financial professional with Prudential in Columbus, helps families plan for their loved ones' futures. She says parents need to consider their assets, goals and feelings about what they want for their child when they are gone.

"As parents, we always want to take care of our children the best we can and provide them a quality of life, and so the planning, the core important part of the planning, includes that factor of providing quality of life for their child."

When a parent passes away, Tramontano says, there are complicated issues involved in the transfer of assets. She says as they plan for the future, an attorney or financial adviser can talk parents through their options, such as a Special Needs Trust, and advise them of state and federal programs that provide assistance.

Many individuals with disabilities qualify for government benefits such as Supplemental Security Income and Medicaid. And Tramontano says factoring those into the transfer of assets can be tricky.

"Their child cannot have assets more than $2,000 in order to qualify for SSI, and likewise the child with a disability cannot have more than $1,500 and stay eligible for any Medicaid services."

Tramontano says her most important message for parents is to not wait to think about the future.

"You don't want to delay these plans. You don't want this to be something that's put on the back burner, because we just never know when these issues will hit our family. So, the urgency is very real."

According to the Autism Society of Ohio, more than one child in 110 has an autism spectrum disorder.

The Harvard study is at www.hsph.harvard.edu.

For help finding a financial professional, contact the Autism Society of Ohio at www.autismohio.org




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