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How Do I Safeguard the Financial Future of My Child with Autism?

Financial experts say that raising a child costs about $250,000. If you are a parent of a child with autism, you can expect to pay about ten times that amount. And if you have a child who incurs regular medical costs, your expenses can reach more than $3 million over time.

Before you get completely overwhelmed, there is a solution: make a plan. But how do you do this?

Get Prepared

Your life is busy, and creating a plan can be difficult when you’re just trying to get through the day. However, if you want to make sure your child with autism is taken care of after you’re gone, you need to be prepared. Here are some tips:

  • Make a plan for saving. Making sure your child with autism has funds to use after you’re gone is crucial to his wellbeing.
  • Get a team of experts involved. There are advocates available to help, as well as attorneys, doctors, and accountants.
  • Write a letter of intent. This is a detailed explanation of your child’s history, medical needs, doctors, and personality traits.
  • Develop a will. This gives your child’s guardian a clear path about where your money should be distributed.
  • Create a Special Needs Trust. This makes sure your child won’t be disqualified from benefits programs. 

Government Benefits

There are many options that provide your family with government assistance and grants, including programs like In-Home Supportive Services (IHSS). These benefits are applied for through lengthy, complex paperwork, and so it is recommended that you seek counsel from an expert to maximize your chances of getting what your child deserves. 

Special Needs Trust

The idea of creating a special needs trust can be overwhelming because the stakes are so high. Caregiving is a very demanding thing, and you as a parent are well aware of this. However, getting this completed will be a big weight off you. Having a trust in place ensures that there is a financial plan in place that will continue to provide your child with the highest quality of life possible. Otherwise, your money can get drained away very quickly and benefits can be lost.

Life Insurance

Life insurance is another way to safeguard the wellbeing of your child. It’s hard to know how long your child will live, but in most cases, he will outlive you as a parent. With this in mind, you should look into permanent life insurance; you won’t run the risk of your policy becoming too expensive or lapsing.


The interest earned on these options can range from 2% to 20% depending on the strategy. Professional advice is available on each of these and is highly recommended. This also includes your 401(k) and IRA holdings, which can be grown with an employer or on your own in a self-directed program. When you have a child with autism, some unique planning is involved. Work with your team and your family so you can develop the best means to provide for your child. Once your plan is created it will give you peace of mind that he is protected.

If this process sounds overwhelming and you feel you need help, you can always reach out to us.

American Disability Association is dedicated to the wellbeing and protection of children with disabilities and actively provides support to enhance their quality of life. Whether you are dealing with federal or state benefits or struggling with a school district to get proper education for your child, we have the resources to help you. Many individuals and families managing a disability are not aware of the wide array of services available to them, or they do not know how to apply for these benefits in a way that is likely to succeed.

Contact us for help. Dial (888) 323-2133 or email us at [email protected]