Financial Planning for Long-Term Stability

Financial planning helps families support quality of life while protecting eligibility for benefits when relevant. Plans work best when they are proactive, transparent, and revisited over time.

Special needs trusts

Third-party trust: funded by family/others as part of estate planning
First-party trust: funded with the person’s own money (for example, settlement funds)

Trusts can often pay for supports not covered by benefits while helping protect eligibility in many cases.

ABLE accounts

ABLE accounts are tax-advantaged savings accounts for eligible individuals. They are often used for disability-related expenses such as housing, transportation, education, assistive technology, and health-related costs. Click here to learn more about Colorado ABLE Accounts.

Estate planning basics

Common steps include:

Updating wills and beneficiary designations
Naming backups for key roles (trustee, executor, agents)
Avoiding accidental benefit disruption (for example, direct inheritance that creates problems)

Safe money management

A practical plan can include:

A clear spending plan
Protections against fraud and exploitation
Support that builds independence safely (without unnecessary restriction)