RL117 - Special Needs Planning with Ken Piercey, JD

Today on the Retirement Lifestyle Show, Roshan Loungani, Erik Olson, and Adrian Nicholson talk to Kenneth Piercey, a Trust attorney specializing in proper estate planning, estate tax elimination, asset protection, special needs planning, probate, and Medicaid. They talk about special needs planning, the benefits of setting up a third-party special needs trust, and how to avoid the scary possibility of guardianship. [01:24] Getting to Know Kenneth Piercy [04:33] Understanding Special Needs Planning [07:23] The Relative Risk of Divorce For Parents of Children With Special Needs [08:42] How Special Needs Planning Has Evolved Over the Past Decade [13:40] The Benefits of Working With a Special Needs Expert [18:00] The First Step When Setting Up a Special Needs Plan [20:27] How Often Should You Review a Special Needs Plan? [21:48] The Ever-Evolving Duty of a Trust Protector [24:37] The Biggest Mistake People Make with Special Needs Planning [27:00] Why You Need an Experienced Estate Planning Attorney [31:43] First-Party Versus Third-Party Special Needs Trusts [35:00] The Benefits of Setting Up a Third-Party Special Needs Trust [37:53] The Best Times to Get an Asset Manager [43:20] Ken's Advice to People Yet to Set Up a Special Needs Trust [45:40] Elder Law and Estate Planning [50:26] Avoiding the Scary Possibility of Guardianship [52:40] Parting Thoughts Roshan can be reached at [email protected] or at 202-536-4468.  Erik can be reached at [email protected] or 815-940-4652. Adrian can be reached at [email protected] or at 703-915-8905. Follow Us At: Website: https://retirementlifestyleshow.com/ https://www.retirewithroshan.com https://youtu.be/hKVzI87v0tA https://twitter.com/RoshanLoungani https://www.linkedin.com/in/roshanloungani/ https://www.facebook.com/retirewithroshan/ https://www.linkedin.com/in/financialerik/ https://www.linkedin.com/in/adrian-nicholson-74b82b13b/ #retirementlifestylepodcast #fire #podcast #FI #Retire #retirewithroshan #BAM #BusinessAsMission #ImpactInvesting All opinions expressed by podcast hosts and guests are solely their own. While based on information they believe is reliable, neither Arete Wealth nor its affiliates warrant its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only and should not be regarded as specific advice or recommendations for any individual. Before making any decisions, consult a professional.