Posted On: January 23rd 2024
Choosing the right person to serve as trustee of a special needs trust (SNT) is a key task when creating such a trust. It may also prove to be one of the most challenging. Trustees are responsible for the following: This, in turn, helps ensure that the special needs trust’s beneficiary remain eligible for public benefits programs….
Read More...Posted On: January 19th 2024
For nearly a decade, people with disabilities have had the option to accumulate savings in a special tax-free account – without risking their means-tested public benefits. In 2024, the annual limit on how much money one can deposit into these savings vehicles, known as ABLE accounts, will rise, allowing individuals to add up to $18,000…
Read More...Posted On: December 29th 2023
Children with disabilities present a unique challenge for parents who are looking to engage in estate planning. For one, you will want to optimize your estate to use, enhance, and enrich assets for your child. At the same time, maintaining their enrollment in public benefits programs is no doubt going to be essential. To ensure…
Read More...Posted On: October 30th 2023
You have completed and executed your plan for your special needs child. Everyone you’ve selected to serve—your guardian, your trustee, your health care proxy, your executor, and possibly a trust protector as well—has signed the paperwork. All set? For now, yes. But it’s a good idea to review these selections on a regular basis, because…
Read More...Posted On: October 26th 2023
Parents of adult children with disabilities know that their child’s disability needs may change over the course of their lifetime. Planning for the future well-being of an adult child with disabilities is therefore, a responsive, ongoing process. The life expectancy of many adults with disabilities has increased over time. For example, according to research, life…
Read More...Posted On: October 25th 2023
3 SNTs Can Provide Future Support for Your Loved Ones with Special Needs The first few months (or even years) after receiving a diagnosis of a physical and/or mental disability can be overwhelming and filled with many unexpected questions and challenges. Your instincts are to provide whatever immediate needs your loved one requires at that…
Read More...Posted On: August 18th 2023
For many, an estate plan is created and never looked over again – until it’s necessary to do so. But did you know that you should really look at your estate plan as something that grows and changes with you? Life Changes Think about what has happened in your life since the last time you…
Read More...Posted On: July 22nd 2023
It can be tempting to avoid the costs of creating an estate plan when your only significant asset is your home. Afterall, what’s the harm of simply putting your home in your child’s name to avoid probate and be done with it? We hear this question more than you’d think at our office, and we…
Read More...Posted On: June 27th 2023
Although you may have taken the time to create a well structed will or trust, there are some common challenges which may present themselves upon your passing. Disputes amongst beneficiaries can result in bitter family relations, costly court proceedings and financial devastation. The following are some proactive measures you can take to avoid common challenges…
Read More...Posted On: May 25th 2023
A growing portion of the older population wants to stay in their homes as long as possible. This is known as “aging in place” and has several benefits when it is appropriate for the individual. However, there are some other care concerns to consider when deciding whether someone is at the point of needing additional…
Read More...Posted On: May 17th 2023
According to a 2021 survey conducted by the Pew Research Center, nearly a quarter of U.S. parents find themselves struggling as part of the “sandwich generation,” those who are caught in a squeeze as they tackle caring for both their own parents and their children. Being a multigenerational caregiver can be a financial, logistical, and…
Read More...Posted On: February 1st 2023
For generations, the children in your family have learned to swim by jumping off of the dock of your family’s vacation home.
Read More...Posted On: September 26th 2022
Choosing the right trustee for any trust is a difficult and extremely important decision. In the case of choosing the right trustee for the trust you have created to protect your loved one with special needs, the decision is even more important—particularly if your loved one is a young child. Let’s take a look at…
Read More...Posted On: January 3rd 2024
The Repeal the Death Tax initiative concerns property taxes. This initiative aims to restore the parent-child property transfer rules that allowed parents to pass their home and up to $1 million of assessed value of other property to their children without any change to the property tax bill. And the impacts of it would be retroactive….
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