Thank you!! I’ll definitely be visiting your site a lot. I have another question related to the SNT. Does the diagnosis of “mild ASD” qualify for setting up a SNT?

Thank you for the responses-it's very helpful to hear what some of the common concerns are. I would like to give as much helpful information as I can here based on your feedback:

An ABLE account came about with the recognition that persons with disabilities have a financial need reaching farther than the allowable $2000 max assets that allow disabled persons to hold onto their government benefits. Here is an article that covers much of the overview of what the accounts can do:

https://www.cnbc.com/2018/07/20/if-you-dont-hav...

Regarding the choice between an ABLE or SNT: This is a complicated question based on many factors-much of this depends on your current financial situation. Many times ABLE would be the first account you would use because of its tax-deferred benefits-but it is likely that you will eventually need both. The trust would come later and could take the form of a living trust, testamentary trust, or a pooled trust.

https://www.familyvest.com/family-vest/blog/how...

The trust is usually formed later and depending on how you decide to fund it, could be created in any number of ways. You will need an attorney that specializes in this area to construct a document using the proper language.

As far as our boys, they are currently 15 and 17 years old. Since planning is an ongoing process, we are consistently addressing their changing needs within their life plan such as assessing their transition plan for after high-school, possible vocational options, etc. Financially, we utilize ABLE and have SNT for the boys. We also have an LOI, Letter of Intent, that outlines their basic care.

I hope this helps!

Thank you! This is very helpful. I’m disappointed at the way they determine eligibility. And this is why.. as we know the rate of unemployment among autistics even those with “mild” autism or “ high functioning” is very high. Autism is complex and just because someone can communicate to a certain extent and has the ability to learn skills thereby making them “mild” does not necessarily mean they can function at a level expected by employers. Things like sensory processing issues and severe anxiety often seen in autistics can preclude them from keeping jobs. Executive functioning is another problem. many autistics need to live with parents or caretakers as adults even when they have jobs and this is essentially due to executive functioning deficits in most cases. Now, when parents are no longer there, will their job pay enough for them to hire help?

Sorry for the rant... and thanks again for these links!

Ok, I got it- Special needs trust

A significant purpose behind the SNT is to allow parents to set aside money for the child while not affecting his/her government benefits due to the child accumulating assets beyond the $2000 limit. If a child has a diagnosis of "mild ASD" it's possible he/she may 1) Be able to work and earn enough money to support themselves and wouldn't need to worry about preserving benefits that would supplement no/low income. 2) not qualify for benefits based on his/her level of disability as determined by the government assessment parameters. It can certainly be complicated, and as my wife and I have seen, and ever-evolving situation that we often need to revisit to make sure bases are covered. These are great questions-happy to help!