Category: Special Needs

Understanding Taxes and Special Needs Trusts

Often, families who care for a loved one with special needs or a disability create and fund special needs trusts. It can provide peace of mind to improve a family member’s future quality of life without jeopardizing their eligibility for government benefits. However, families must also consider the tax implications

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Making the Right Choice When It Comes to Special Needs Trustees

A special needs trust (SNT) is usually created and funded by the grantor (the person who creates the trust). However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the individual with special needs. When selecting a reliable, honest, and capable successor

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Helping Your Child with Special Needs Enter Adulthood

You need to take practical and legal steps to plan for your child’s transition to adulthood as they turn eighteen. Begin well before their birthday to ease the transition and ensure they continue receiving their government benefits as an adult. If they require life planning and decision-making oversight, parents need

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The Importance of Estate Planning for Those With Special Needs

A third-party special needs trust, also known as a supplemental needs trust, is an estate planning tool for parents of kids with mental/physical disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability.   Goals include: leaving

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