How Can I Provide For My Disabled Child

How Can I Provide For My Disabled Child

If your child has a disability, it’s important to consider and plan for the financial impact this can have on both your Budget and long term financial plan.

Some of the important considerations and expenses when it comes to your Budget can include:

  • Carer or helper to provide for your child
  • Medication or healthcare requirements
  • Medical services
  • Any medical equipment required and not covered by private healthcare
  • Any changes or modifications to your home

Thankfully, there are a range of support payments for parents who are caring for a child with a disability. Some of the key payments include the Child Disability Assistance Payment, which provides for an annual amount to help cover some of the costs for parents. You can find out more about support payments available in Australia here.

It’s also important to consider your long term plans and ensure that your child would continue to be cared for in the event of unforeseen circumstances. The following are some of the key considerations:

1. Life Insurance: You may want to consider putting in place life insurance with the primary beneficiary being your disabled child. This would ensure that your child would be looked after in the event that you were no longer around.

2. Special Disability Trust: In Australia, you can set up a special trust for your disabled child, which can either be set up while you’re alive or it can be part of your Will. Up to $500,000 can be placed in the Trust and these assets are excluded from Centrelink tests ensuring that your disabled child would still receive the full pension. For more information on Special Disability Trusts, please click here.

3. Will: You can of course nominate your disabled child as one of, or the primary beneficiary, in your Will. While it does not carry the same flexibility and specificity of a Trust, it may still cover your needs to ensure your disabled child is still cared for in the event you’re not around to care for them.

It’s important to seek both appropriate legal and financial advice when considering the plans to care for your disabled child.

To Your Financial Success!

Jarrad Brown is an Australian-trained and qualified Independent Fee-Based Financial Adviser with Australian Expatriate Group of Global Financial Consultants Pte Ltd providing specialist financial advice and portfolio management services to international and local professionals in Singapore.

Book a complimentary consultation here.

Jarrad Brown is an Authorised Representative of Global Financial Consultants Pte Ltd – No: 200305462G | MAS License No: FA100035-3

*Please note that Jarrad Brown is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.


Jarrad Brown is the trusted fee-based financial adviser in Singapore working with professional expats in the region. An Australian qualified and experienced Financial Adviser, Jarrad provides specialist advice to Australian expats as well as other nationalities.

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