Hi, I’m Aaron Osterberg, Associate Consultant at Oak Wealth Advisors and I’m excited to share tip #6 in our Top 10 Special Needs Financial Planning series.

Tip number 6 is to review beneficiary designations and account titles.

This includes IRAs, retirement accounts, and life insurance policies. It’s crucial to name a special needs trust as the beneficiary rather than listing your loved one with special needs directly. Doing so helps preserve their eligibility for means-tested benefits they may be receiving. Remember, beneficiary designations take precedence over your will, so reviewing and updating these regularly is an essential step to ensure your wishes are reflected.

Thank you for listening and look out for tip #7 coming in December.