For parents or caretakers of people with special needs, the stakes are higher when it comes to financial planning.
Not only are they trying to meet their own current and future financial goals, they also want to ensure their loved one's needs continue being met if the caretaker predeceases their charge.
Enter the special needs trust.
"A special needs trust is the cornerstone of planning for a person with special needs," said certified financial planner Michael Walther, founder of Oak Wealth Advisors. "But it has to be done in a way that [ensures] they still qualify for government benefits."