How do I help my disabled sister manage her finances? My parents are not helping her or planning for the future at all, and I don’t want to be intrusive, but she really does need help with finances and planning for the future.

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Posted by Lindsay VanSomeren (MONEY FORUMS: 3, Answers: 4)
Asked on December 14, 2015 7:38 pm
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Hi Lindsay. Here are a couple of basics to get started. The first thing I would suggest is to help her prepare a budget. Knowing what she has coming in verses what is going out is essential for making any decisions.
A budget can be fairly simple; add up any sources of income; add up all of the expenses; and compare the two. If the income is not at least as much as the expenses look for ways to reduce expenses.
The second step is to find out what resources may be available to help your sister. The federal government has a disability resource website at disability.gov
Additionally you may want to check for local or state resources as well.
Financial planning for disabled persons is complex. For example, in some cases saving for the future could cause a loss of benefits in the present! Due to the complexities involved you may want to seek out a financial professional who specializes in working with disabled persons.
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Posted by Peter Neeves (MONEY FORUMS: 1, Answers: 59)
Answered: December 28, 2015 6:57 pm
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Lindsay, I agree with Peter. Just as there are financial professionals who specialize in helping older people manage money, particularly when decisions are being made about full-time care and nursing homes and how to maximize benefits, there should be professionals who specialize in working with disabled folks and understand the ins and outs.

A budget is a good place to start, and could be a project you work on together. Perhaps a conversation with your parents would be helpful also, just to confirm that they have not made any provisions for her support. Maybe asking the question might get them started on figuring it out as well....
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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: December 28, 2015 8:13 pm