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Community Corner

Financial Tips for Parents Raising a Child with Special Needs

SunTrust Bank Senior Vice President Bill Frazier shares some expertise with local families.

Many families raising a special needs child find themselves anxious about a future they won't be around for, which is where preparation becomes key in having some peace of mind and stability of finances, say experts.

SunTrust Bank Senior Vice President Bill Frazier offers five tips to strategizing a secure financial future for families with special needs children, including this one:

Identify the best trust for your situation. Special Needs Trusts (SNTs) are ideal for parents who want to ensure their child will be eligible now or in the future for federal and state benefit programs such as Medicaid and/or SSI. Additionally, a well-crafted SNT will address many of the care considerations parents have regarding their children after they are gone.

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Read the full list of five tips on Patch.

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