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Estate Planning

Choosing Trustees for Special Needs Trusts: 5 Considerations

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….

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ABLE Accounts in 2024: Save Up to $18,000 Annually

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…

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Lifetime Money Management for Children With Disabilities

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…

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When Should You Consider Changing Your Special Needs Plan’s Key Players?

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…

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Building an Estate Plan for Adult Children with Disabilities

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…

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Three Types of Special Needs Trusts: Providing Future Support for Your Loved Ones with Special Needs

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…

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When Was the Last Time You Updated Your Estate Plan?

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…

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Why Transferring Home Ownership Does Not Replace an Estate Plan

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…

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How to Avoid 6 Common Challenges in Your Will or Trust

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…

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Aging in Place vs. Nursing Home Care: 5 Important Factors to Make the Right Choice

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…

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