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Retire Secure For Parents of a Child with a Disability

“Combining warmth and compassion with functional hard-headed advice, the dream team of Jim Lange, Deborah McFadden, and Julieanne E. Steinbacher have provided families of children with disabilities with the guidance they need to achieve financial security.”


―Burton G. Malkiel

Professor Emeritus of Economics, Princeton University and Author, 

A Random Walk Down Wall Street (Over 2 Million Copies Sold) 

My co-authors and I believe you have discovered the best and most comprehensive financial resource available for parents of a child with a disability. 

 

Our book explains, analyzes, and demonstrates how most parents can use very specific strategies to secure their financial life and the long-term financial life of their child.

 

This website offers supplemental information at no cost or obligation. You can download the Executive Summary and the Synopsis. Please see the links below.

Retire Secure For Parents of a Child with a Disability

Original Air Date:
Monday, February 12, 2024

Recordings of Sessions 2 and 3 are available to watch at your convenience using the link below. 

This summit featured the three co-authors of the new best-selling book, Retire Secure for Parents of a Child with a Disability. The three speakers covered their respective areas of expertise and provided you with the highest quality information to help your child with a disability. All authors agree about the most important steps for you to take so your child will get the most out of what you’ve got.

Below is the three-part solution which corresponds to the three sessions in this summit:

  1. Get your child approved for Supplemental Social Security Income (SSI), usually after the child turns 18. Later, it is usually optimal to get the child approved for Social Security Disability Income (SSDI). Getting approved is the “Golden Ticket” to enormous benefits. Please see Session One with Deborah McFadden.

  1. Optimize your estate planning. You will need appropriate wills, trusts, other documents and perhaps most importantly, a special needs trust that will preserve government benefits and also provide money for your child. If the underlying asset that funds the trust is an IRA or retirement plan, it also needs to meet four conditions to enjoy the “stretch IRA” rule that is so critical for beneficiaries with a disability. Please see Session Two with Julieanne Steinbacher.

  1. Optimize your tax strategies starting with a long-term Roth IRA conversion plan. The question of whether, how much, and when to convert are addressed. (The “conclusion” for many parents will be a series of conversions over a number of years.) We will also contrast optimal vs. mediocre planning. Our recommendations are based on peer-reviewed math, not conjecture or opinion.

We will also cover the importance of getting the coveted eligible designated beneficiary (EDB) status that comes with SSI and SSDI for your child. There will also be non-Roth related content including use of the ABLE Act. Please see Session Three with James Lange.

A word to the wise. We highly recommend that you begin by reviewing the Table of Contents to quickly identify the information that is relevant and pertinent to your circumstances.

 

You can trust the content. This book has received glowing testimonials from prominent financial experts and the foreword was written by Burton G. Malkiel, Professor Emeritus of Economics, Princeton University, and author of the classic finance book, A Random Walk Down Wall StreetThe authors’ credentials speak to their level of expertise (see below).

 

Why This Work Is So Meaningful to Me

 

It is personal to be sure. My wife and I have a daughter with a disability and before I developed our long-term financial solution, we worried endlessly about our daughter’s future. How would she manage after we were gone?

 

But honestly, it goes well beyond our family. I have spent my career helping IRA and retirement plan owners make the most of what they’ve got. I knew that by using my specialized expertise in inherited IRAs and retirement plans as well as Roth IRA conversions that I could devise the best financial solution for other parents in our situation. But there were gaps in my expertise.

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Fortunately, I filled those gaps by connecting with two exceptional authorities in the field of helping parents of children with disabilities, my excellent co-authors, Deborah L. McFadden and Julieanne E. Steinbacher, Esq. The result is the book, Retire Secure for Parents of a Child with a Disability.

 

What We Recommend

 

A brief outline of our three-step solution follows:

 

  1. Qualify for SSI or SSDI—the intricacies of which are expertly explained by Deborah McFadden, former U.S. Commissioner of Disabilities and mother of Tatyana McFadden, paralympic champion.
  1. Develop an appropriate estate plan that would protect government benefits but still provide benefits to the child with a disability for that child’s lifetime. Julie Steinbacher practices, writes, and teaches in this area.
  1. Establish a course of action for a long-term financial plan, which will likely involve Roth IRA conversions and ABLE accounts as well as many other techniques—my area of expertise and written for the lay reader.

 

For more specifics, especially on the third step, I highly recommend you scan the Table of Contents and read any section that interests you. Two little known areas that could potentially provide enormous value are Who Gets What (p. 335) and our plan to convert an Inherited Traditional retirement plan to a Roth after you die (p. 221).

 

About the Authors

 

Deborah L. McFadden is a Former United States Commissioner of Disabilities. She knows more about the intricacies of applying for SSI and SSDI than anyone I know of. Her contribution to the book could be life-changing for tens of thousands of readers. Furthermore, Deborah brings a wealth of personal expertise to the area. Her daughter, Tatyana McFadden, is one of the best known paralympic champions in the world with 20 Paralympic medals including eight gold medals and 24 World Major Marathon wins.

 

Julieanne E. Steinbacher, Esq., is a Special Needs Planning expert. Julieanne helps parents of a child with a disability with their estate plans drafting wills, special needs trusts, powers of attorneys, etc. for Pennsylvania residents. She also writes extensively in the area and leads a group of attorneys in this area.

 

James Lange, CPA/Attorney – I have written ten books for IRA and retirement plan owners and have been quoted in The Wall Street Journal 36 times. My last book, Retire Secure for Professors and TIAA Participants has 68 of 70 glowing 5-star reviews on Amazon. Much of that content overlaps with this book.

James Lange

CPA/Attorney/Registered Investment Advisor

Jim’s tax and estate planning strategies have been endorsed by The Wall Street Journal (36 times). He is the author of 8 best-selling books. Some of his books have been endorsed by Charles Schwab, Larry King, Jane Bryant Quinn, Roger Ibbotson, Ed Slott Bob Keebler Larry Kotlikoff, Jonathan Clements, Paul Merriman and Burton Malkiel.

James Lange

James Lange
Julieanne E. Steinbacher

Julieanne E. Steinbacher

Esq., CELA/LLM in Estate and Elder Law

Julieanne is the founding shareholder of Steinbacher, Goodall & Yurchak, an elder care and special needs planning law firm, with offices in Williamsport, State College, Wyalusing and Wysox, PA. As a former social worker, she has a unique perspective on children with a disability. Each of her law offices has social workers on staff to help families coordinate care and benefits.

Julieanne E. Steinbacher

Deborah L. McFadden

Former United States Commissioner of Disabillities

Deborah McFadden was appointed by President George H.W. Bush as U.S. Commissioner of Disabilities and was instrumental in the writing and passage of the Americans with Disabilities Act. For years, she has been recognized as one of, if not the top expert in the country helping individuals with disabilities qualify for SSI, SSDI, and other crucial resources. She is the mother of two USA Paralympic athletes. Her daughter Hannah is ranked third in the world in rock climbing. Tatyana has won 20 Paralympic medals including eight gold medals. Tatyana is one of, if not the most honored, and recognized athletes with a disability in the world.

Deborah L. McFadden​

Deborah McFadden