Now, take some time to consider the future financial needs of your child based on the planning assumptions you had made earlier. Adapted from templates used by Special Needs Trust Company (SNTC), the categories of needs captured in the table below may also be a helpful reference:

With these in mind, you can now consider options for your financial plan.

For Goal #1: Set aside money to support your child’s future expenses

For Goal #2: Make sure that the money is safely given to your child

Every financial plan is unique. What goes into the financial plan for your child depends on your situation. There are different options you can use to put together your financial plan to meet the 2 goals. Your plan may consist of just one or a combination of these components: trust, bank account, insurance policies, Special Needs Saving Scheme (SNSS) account, etc.

You can find out more information about these options below. This will enable you to determine what combination of these options is suitable for you and your child.

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• Lasting Power of Attorney
• A Trust
• A Will
• Making a CPF Nomination
• Insurance Policies
• Testamentary Guardian (if your child is under 21 years old)
• Deputyship Application (if your child is over 21 years old) </aside>

What will your strategy be?

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Activity: Options for Your Financial Plan

Identify the items you intend to include in your financial plan by checking the appropriate boxes. If you have already started working on a financial plan for your child, you can also think through what else you may need to do to make it complete.

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Example for Jon’s Family

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