Engaging Experts in Special Needs

Cameron Hamilton

Our guiding principle at Ballast is simple- build a team that we would want to take care of our own families.  Sometimes this means better educating ourselves or adding expertise through hiring.  However, at times the best course is to go out and find an expert in the community.  With special needs families, we’ve found that navigating the web of regulations surrounding trusts and government assistance is so complicated, it is a full-time job.  Luckily, we’ve found great people in Kentucky, and elsewhere, who’ve made it their mission to provide this service.  Today we highlight Life Plan of Kentucky, Inc., a non-profit that leads the way in local special needs planning.

Life Plan filled a void in special needs trust administration in Kentucky.  Most banks and trust companies decline to serve as trustee for special needs trusts because of administrative complexity or account size minimums.  This is troubling, because without proper planning, a person with disabilities and as little as $2,000 in assets can be ineligible for Medicaid assistance.  This is one of many challenges facing individuals with disabilities and the people who love them.

We’ve worked closely with Karen Perch, the Executive Director of Life Plan, to help our families with special needs planning.  Life Plan offers Special Needs Trust drafting and performs trust administration regardless of size.  They also manage a pooled special needs trust fund open to all Kentucky residents with disabilities.

On top of these much-needed professional services, Life Plan is a great advocate for individuals with disabilities.  Karen and some of Life Plan’s Board of Directors have served as guardians for family members and non-family members with disabilities and their passion shows in their work.  Life Plan continuously works to create greater community awareness of the contributions people with disabilities make to society.

We take our responsibility as your family’s financial advocate very seriously, and we’re always on the lookout for ways to serve in your better.  We are fortunate to have a great resource in Life Plan of Kentucky who can help any family needing special needs trust administration.  Karen has even helped us find similarly passionate non-profits to help clients in other states.  We will continue seeking to serve you by building a team we would want to take care of our own families- either within Ballast or with experts like Life Plan.

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