Financial Planning for People with Disabilities and Their Caregivers

Caring for someone with a disability or managing your own care needs can be a full-time job in itself. Between appointments, daily routines, and making sure everyone’s needs are met, money can easily become one more stress you don’t need.

With the right financial plan, you can take a lot of that pressure off your shoulders. You’ll feel more in control, more confident about the future, and better able to focus on what really matters: quality of life for you and your loved ones.

This guide walks you through the supports, strategies, and steps you can take to make financial planning less overwhelming and more doable.

Start with the Supports You’re Entitled To

There are plenty of financial supports in Ireland for people with disabilities and their caregivers, but the tricky part is figuring out which ones you’re entitled to and how to actually claim them.

Here are some of the key ones to explore:

• Carer’s Allowance – A weekly payment for people providing full-time care. It’s means-tested, but many are surprised to learn they qualify.
• Carer’s Benefit – If you’ve been working and need to take time off to care for someone, you may be eligible for this payment (based on PRSI contributions rather than income).
• Carer’s Support Grant – An annual lump sum (currently €2,000) paid in June to those caring full-time. You don’t have to spend it in a certain way—it’s there to help with the extra costs of caring.
• Domiciliary Care Allowance – A monthly payment (€360) for those caring for a child under 16 who needs extra care because of a severe disability.
• Tax Credits – The Home Carer Tax Credit (up to €1,950) and the Dependent Relative Tax Credit (€305) can make a noticeable difference when you file your taxes.
• Medical Expenses Relief – You can claim 20% tax relief on a wide range of medical costs, including specialised equipment, therapy sessions, and certain travel costs for treatment.

Some supports overlap, while others can be claimed at the same time. You can find detailed information about these benefits on the Citizens Information website, My Welfare or through Revenue.

Make Day-to-Day Money Management Easier

When your time and energy are already stretched, managing your money can feel like a daunting task. The key is to simplify wherever possible:

• Use budgeting tools designed for accessibility. Whether that means large-print spreadsheets, easy-read banking apps, or voice-activated finance tools, find something that works for you.
• Keep a care-related budget. Keep track of the ongoing costs of care—from transport to appointments, special diets, and even higher heating bills if someone is at home throughout the day.
• Separate accounts help keep care expenses distinct from household bills, making it easier to see where the money is going.
• Involve the person with a disability in decisions—as much as is practical. Having a say over money matters can be empowering and helps make financial decisions feel like a shared process.

Plan for the Future—Even if It Feels Far Away

When you’re caught up in daily life, thinking about the future can feel like a luxury. However, planning ahead gives you peace of mind, not just for yourself, but for your loved ones too.

A few things to consider:

• Wills and Trusts – Setting up a will ensures your wishes are followed. Special needs trusts can help provide for individuals with special needs without affecting their entitlement to state benefits.
• Guardianship and Decision-Making – The Assisted Decision-Making (Capacity) Act now allows for supported decision-making arrangements, helping people remain in control of their own lives for as long as possible.

The earlier you start these conversations, the easier it is to put the right structures in place.