If you are the parent of a child with special needs, the importance of careful and comprehensive estate planning is significantly heightened. Like all parents, you undoubtedly want to protect and provide for your child to the best of your ability. Incorporating a special needs planning component in your estate plan is one excellent way to do just that. Within your special needs plan, you may … [Read more...] about What Can You Purchase with a Special Needs Trust?
If you wish to gift assets to someone with special needs, care must be taken when making that gift because you could do more harm than good. To ensure that you do not interfere with the beneficiary’s eligibility for much-needed state and federal assistance programs, you may choose to make your gift using a Special Needs Trust. A Special Needs Trust is a specialized type of trust that is intended … [Read more...] about Special Planning for Children with Special Needs
"What is the Money in a Special Needs Trust Used For?" by Attorney Alex Pagnotta The creation of a special needs trust is of vital importance if you have a person in your life who is disabled and you want to provide a financial gift to that individual. Money or property that you wish to give should be placed into a trust so as not to cause a loss of access to important government benefits like … [Read more...] about What is the Money in a Special Needs Trust Used For?
The creation of a special needs trust is of vital importance if you have a person in your life who is disabled and you want to provide a financial gift to that individual. Money or property that you wish to give should be placed into a trust so as not to cause a loss of access to important government benefits like Medicaid. The money held within the trust is to be managed and used by a trustee … [Read more...] about What is the Money in a Special Needs Trust Used For?
Special needs trusts are essential when a person with disabilities has assets to protect. Whether the person with the disability has funds, receives funds from a personal injury settlement, or receives funds and property as a gift, the money must be managed carefully. It also has to be owned in an appropriate manner so the assets do not prevent or threaten Medicaid eligibility or eligibility for … [Read more...] about Special Needs Trusts
What is the ABLE Act? The act is a bill that was introduced in Congress in 2013. It was recently passed by the House, and is up before the Senate. The ABLE act would amend Section 529 of the Internal Revenue code to create tax-deferred savings plan for those individuals with disabilities without affecting those individual’s eligibility for Medicaid or Supplemental Security Income, or … [Read more...] about The ABLE Act – Achieving a Better Life Experience Act)
"The ABLE Act - Achieving a Better Life Experience Act" by Attorney Jon J. Gasior … [Read more...] about The ABLE Act – Achieving a Better Life Experience Act
Are you the trustee of a Special Needs Trust? Do you have a child with a disability that will receive government benefits? Disability planning is an often overlooked aspect of estate planning that requires unique considerations and a deeper understanding from all of the parties involved. If you answered yes to either of the previous questions, you will need to be aware of what Special Needs … [Read more...] about Are You the Trustee of a Special Needs Trust?
"Administering Special Needs Trusts" by Attorney J. J. Gasior … [Read more...] about Administering Special Needs Trusts (Audio)
“You may delay, but time will not,” Benjamin Franklin. Everyone knows that they need an estate plan, but few of us do anything about it. In fact, according to a 2007 study, more than 55% of Americans don’t even have a simple Will. And yet, the clock is ticking for all of us. So why don’t more of us actually put together an estate plan? For some, it’s a morbid fear that by thinking about death, … [Read more...] about 10 Essential Estate Planning Facts