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It is well-established that the financial impact of disability on the U.S. population continues to grow, along with the increasing prevalence of disability in the population, particularly since those with disabilities are living longer. 9 million families in America are caring for a child with disability, and in 2030 there will be 1.2 million adults aged 60 and older in the U.S. with developmental disabilities. In 2020, the estimated U.S. spending for long-term care totaled $361.6 billion, and 40% of adults face disability for some period of time during their lives. These demographic and public health trends overwhelmingly show that financial professionals will require greater knowledge about the unique challenges faced by their clients dealing with disability or chronic medical conditions and should be conversant on the pre-planning opportunities that exist. This program will provide an overview of the various ways financial wellness can be impacted by disability and potential planning strategies for clients.
Learning Objectives
Upon successful completion of this learning activity, you will confidently be able to:
- Understand how financial wellness can be drastically impacted by disability.
- Identify key issues when serving an individual client or family member affected by disability.
- Understand the importance of maintaining public benefits eligibility for disabled clients.
- Review key planning strategies, techniques, and resources for disabled clients and caregivers.
- Illustrate issues and planning strategies using real world case studies.
Presenter
Joellen Meckley, JD, MHS, ChSNC® is the Executive Director of The American College Center for Special Needs and has dedicated her entire career to serving the disabled and elderly community. She started her career as a licensed nursing home administrator, running nursing homes and assisted living facilities in multiple states. That experience included working as an executive within companies ranging from a start-up long term care management firm to large, urban, non-profit provider of wide-ranging services for the elderly and disabled.
Following her years in health care administration, she went on to obtain her law degree and began her private practice as an attorney, again concentrating her work around serving the unique needs of the disabled and elderly population. After establishing and running her own law office for several years, Joellen most recently was a partner at a boutique law firm, known nationally for its expertise in the areas of special needs and elder law. In that role, Joellen assisted countless clients to establish special needs trusts, prepare for living with a lifetime disability, and protect assets from the costs of long term care, frequently working together with financial advisors and other professionals to achieve her clients’ goals.
Joellen holds a B.A. in Psychology from the University of Michigan, an M.H.S. in Health Finance and Management from Johns Hopkins University, a J.D. from the Temple University Beasley School of Law and has obtained her Chartered Special Needs Consultant designation from The American College of Financial Services.
CFP® CE Credit
This content is eligible for one hour of CFP® continuing education (CE) credit.
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The College’s Professional Recertification Program (PRP)
This content is eligible for one hour of PRP continuing education credit.
To begin, click on the button below. As you move through the content, make sure to mark each page complete by clicking on the appropriate button, and then click Next Lesson at the bottom of each page. Once you complete the entire activity, the progress bar will show 100%.
When Life Throws a Curveball: Planning Essentials for Clients Impacted by Disability
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