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Coffee Break with C2P: A holistic approach to special needs planning

The Bucket Plan® On-Demand Podcast

Coffee Break with C2P: A holistic approach to special needs planning

In This Episode

About the Episode:

Do you or the clients you work with have loved ones with special needs? Improve how you advise and educate these clients by learning the unique considerations and strategies involved in special needs financial planning from a compassionate specialist.

Join host Kirsten Schlumbohm, Vice President and Head of Annuity Sales at C2P, as she sits down with Elizabeth “Betsy” Larson, WMCP®, BPC, a financial consultant at Special Needs Advanced Planning.

Drawing from both personal and professional experiences, the two delve into key topics such as reviewing estate plans, understanding government benefits, utilizing ABLE accounts, creating a memorandum of intent, and best practices for advisors when working with families with special needs members.

Key Topics Discussed:

  • Larson’s personal and professional journey: Larson explains how having four sisters with Down syndrome led her to specialize in special needs financial consulting.
  • Key considerations for special needs financial strategies: The importance of reviewing estate plans, understanding government benefits, using ABLE accounts, and creating a document with important information about the individual’s needs and preferences.
  • Best practices for advisors: Being understanding, asking questions, discussing sensitive topics openly, and identifying potential special needs situations.
  • Handling challenging situations: Learn how to handle the challenges of this type of planning, by allowing clients to express frustrations, especially about future care, and providing a supportive environment through proper planning.
  • Holistic approach and The Bucket Plan®: How The Bucket Plan® process can simplify financial planning for special needs families while still being comprehensive.
  • Addressing underinsurance: Strategies when clients lack sufficient life insurance, like using government benefits and special needs trusts.
  • Trustee selection: How to choose or consider a trustee, often combining a family member and corporate trustee for personal connection and legal expertise.
  • Resources and marketing: Discover more strategies and education through Larson’s webinars, YouTube channel, and further suggestions for reaching special needs families through seminars, podcasts, collaborations.

Listen in for advanced planning strategies to better serve and support your clients’ loved ones with special needs considerations.

Resources:

C2P Advisors Only:

Coffee Break with C2P: A holistic approach to special needs planning

About the guest host:

Kirsten Schlumbohm, BPC, is the Vice President, Head of Annuity Sales at C2P. She has over 15 years of industry experience, in which she has served as an insurance and annuity wholesaler, sales trainer and leader, and financial advisor. In addition to her life and health insurance licenses, she holds her Series 66 and a degree from Iowa State University.

Kirsten is committed to empowering people and helping them reach the retirement finish line. She believes in optimizing processes to build strategies out of silos and encourage tighter collaboration. When she isn’t busy helping her advisors, Kirsten can be found running trails in the great state of Oregon, watching Iowa State Football, and changing the world by rescuing one senior dog (or two) at a time with her partner Jeff.

About the guest:

Elizabeth Larson WMCP®, BPC, is a financial consultant specializing in special needs advanced planning. With four sisters with Down syndrome, she has a deep personal connection and understanding of the importance and complexities involved in planning for loved ones with special needs. Larson takes a holistic, values-based approach, working closely with families to develop personalized strategies that address their unique circumstances and alleviate future concerns. Her special needs planning services guide clients through navigating government benefits, defining care options, and weighing important decisions.

Larson aims to provide coordinated advanced planning integrated into families’ overall financial strategies. She collaborates with a team of specialists across relevant disciplines as a member of the Academy of Special Needs Planners. Larson also serves on the board of GiGi’s Playhouse Detroit, furthering her mission to create an equitable world for individuals of all abilities. Her comprehensive services are offered through Special Needs Advanced Planning, separate from her financial planning and investment advisory work with Prosperity Capital Advisors.