Financial Planning When Mental Illness Strikes: Why ABLE Accounts Matter (Ep. 144)

Written By Randye Kaye

The episode of "Schizophrenia: Three Moms in the Trenches" features a discussion with financial planner Alan Giese, of Modera Wealth Management, about ABLE accounts and financial planning for individuals with severe mental illness. Randye, Mindy, and Miriam, share personal updates about their sons' current situations, highlighting the challenges and fluctuations in their conditions. Giese explains that ABLE accounts allow individuals receiving SSI or Medicaid to save money without jeopardizing their benefits, detailing the account's features, contribution limits, and eligible expenses. The conversation also touches on the importance of special needs trusts and the role of financial planners in creating comprehensive plans. Giese shares his personal experience with his son's mental illness and advocates for the use of professional services to navigate these complex issues. The hosts and Giese emphasize the need for families to have informed plans in place for the future care of their loved ones.

Randye Kaye

Randye Kaye is a female voice talent for business and beyond. She is the author of two books; Happier Made Simple™ and Ben Behind His Voices. As an actress she has appeared in numerous theatrical, film and television performances. Randye is a keynote speaker on the topics of mental health, communication, and happiness.

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