Peace of Mind Is Possible: Protecting Your Child’s Future with Planning for Two Lifetimes

ByBNW TEAM

For families raising a child with special needs, one little-known rule can have enormous consequences. Under SSI guidelines set by the U.S. Social Security Administration, an individual with more than $2,000 in countable assets can lose access to critical government benefits entirely. That means a well-intentioned gift, an inheritance left without proper planning, or even a basic savings account could quietly disqualify a child from the very support they depend on.

Most parents do not discover these rules until a costly mistake has already been made. Created by Michael Ringel, a Chartered Special Needs Consultant with more than 20 years of experience, Planning for Two Lifetimes is a free, 100-page book that gives families a clear and compassionate starting point, covering the rules, the tools, and the most common mistakes to avoid.

What is the Difference Between a Special Needs Financial Planner and a Regular Financial Advisor?

Choosing between a general financial advisor and a specialist isn’t just a matter of preference, for families with special needs, it’s a necessity. A general advisor, even one skilled in retirement or investment planning, can accidentally give advice that proves catastrophic for a family with a disabled child. The real difference comes down to deep, credentialed knowledge of the specific rules governing benefits, trusts, and long-term care. 

A Chartered Special Needs Consultant (ChSNC, for instance, brings a level of expertise a general advisor simply will not have. Here is how their approaches differ:

  • Understanding of Government Benefits: A general advisor typically focuses on maximizing investment returns. A special needs planner like Michael Ringel of Special Needs Wealth Planning knows how to structure assets so they work with programs like SSI and Medicaid, not against them.
  • Specialized Tools: A specialist understands the critical differences between Special Needs Trusts (SNTs) and ABLE accounts and knows how to use them correctly so families do not accidentally lose benefits.
  • Credentials and Focus: Michael Ringel holds the ChSNC designation along with CPA, RICP, CDFA, and CExP certifications, reflecting more than 20 years of focused experience in this area.
  • Holistic Strategy: Special needs planning covers more than one person. It is a multi-generational strategy that accounts for the parents’ retirement, the needs of siblings, and legal matters like guardianship.

How Can I Leave Money to My Child Without Disqualifying Them from Benefits?

It’s a question that keeps many parents up at night. The solution involves using financial and legal tools designed specifically to hold assets for a person with a disability. When used correctly, these assets don’t count against the strict limits for programs like SSI. The two main tools for this are Special Needs Trusts and ABLE Accounts.

A Special Needs Trust is a legal arrangement where a trustee holds and manages assets on behalf of a person with a disability. The funds are used for supplemental needs that government benefits do not cover, such as recreation, education, and certain medical expenses. Because the individual does not directly own or control the assets, they are not counted toward SSI eligibility limits. 

The Planning for Two Lifetimes book walks families through how these trusts work in plain, accessible language.

Is a Special Needs Trust or an ABLE Account Better?

In most cases, it is not a choice between one or the other. Effective special needs financial plans often use both, since they serve different purposes.

  • ABLE Accounts are tax-advantaged savings accounts similar to a 529 college savings plan. They are well suited for everyday expenses and allow an individual to save money without affecting their benefits, up to a set limit. They offer flexibility for day-to-day qualified disability expenses.
  • Special Needs Trusts are better suited for holding larger amounts, such as an inheritance, a life insurance payout, or a legal settlement. They are more complex to set up but provide a stronger framework for protecting significant assets over the long term.

Determining the right approach depends on the family’s full financial picture, which is the kind of planning Michael Ringel and Special Needs Wealth Planning specialize in.

What is Inside the “Planning for Two Lifetimes” Book?

The book is designed for parents who feel overwhelmed and are not sure where to begin. It covers:

  • The 10 most common mistakes families make in special needs planning and how to avoid them.
  • How to protect SSI and Medicaid while still planning for a good quality of life.
  • How trusts, benefits, insurance, and cash flow work together.
  • Practical steps families can take right away to reduce risk.

The goal is to help parents move from worry to clarity at their own pace, without jargon or pressure.

Who is “Planning for Two Lifetimes” Best For?

Planning for Two Lifetimes is written for parents and families who are ready to take that first informed step. It is a strong fit for:

  • Parents of children with special needs who feel overwhelmed by the complexity of planning and are afraid of making a costly mistake.
  • Parents who are ready to answer the question of what happens to their child financially when they are no longer there.
  • Parents who want straightforward educational information before committing to a financial advisor.

With the right knowledge and the right plan in place, peace of mind is not just possible. It is the goal.  And Planning for Two Lifetimes is a practical place to start.

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