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Here's how to save for your child who may need life-long care

Here's how to save for your child who may need life-long care

Finance
If you have a family member with a significant disability, you may be wondering how to care for her or him. Special needs trusts are an option but they often require substantial amounts of money — as much as $ 100,000 up front — and the services of a lawyer. A less expensive way of establishing a trust for a family member with special needs is the pooled trust, available to people with modest assets. Whether or not you have one of these special needs trusts, the ABLE account is another way to set money aside. Not only is it less expensive, it’s much easier. ABLE accounts are tax-advantaged savings accounts f...