Ruder Ware's Elder Law Team Recognizes National Special Needs Law Month - Part 2
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: ...more
Estate planning can be a daunting task for individuals and families. The stakes can be high. The decisions are often numerous. Family dynamics frequently come into play. However, for those living with special needs or those...more
For individuals with disabilities, an inheritance or settlement can jeopardize a their government benefits, such as Medicaid and Supplemental Security Income (SSI). A special needs trust (SNT) can help the individual remain...more
Funds held in a properly drafted special needs trust (SNT) will not affect a Supplemental Security Income (SSI) or Medicaid recipient’s benefits. However, funds disbursed in a manner that violates SSI or Medicaid rules can...more
In a recent Michigan Court of Appeals case, In re Special Needs Trust for the benefit of Talonda Moss, Docket No 357836, 2022 WL 2760235 (Mich Ct App Jul 14 2022), the court ruled on whether a trust created for a disabled...more
For disabled persons receiving financially-based government benefits, supplemental needs trusts (“SNTs”) can safeguard benefits and serve as an effective estate planning tool. SNTs allow individuals with disabilities to...more
Among the costs of caring for a dependent with special needs are the fees for professional advice. Some families are tempted to save on these costs by setting up a plan on their own. This can be attractive because so much...more
Any parent of a child with a disability has likely heard of a “special needs trust.” As information has become more easily available online, a simple Google search for “special needs trust” is likely to garner hundreds of...more
Supplemental Security Income (SSI) is a federal program that helps people with disabilities and very low incomes pay for food, clothing and shelter. It also is a key avenue to Medicaid coverage. SSI is often confused...more
President Biden has signed the $1.9 trillion American Rescue Plan into law. Among its benefits are $1,400 checks that are already landing in the bank accounts or mailboxes of most Americans to help them weather the economic...more
If you have already established an appropriate special needs trust for your child, then congratulations! You've taken a wonderful step towards ensuring that your child can take maximum advantage of the government programs...more
Saving money for a loved one with a disability can be challenging because of the $2,000 resource limit for eligibility for means-tested governmental benefits like Supplemental Security Income (SSI) and Medicaid. In the past,...more
Means-tested public benefit programs such as Medicaid (which provides health insurance and payment for skilled care andother medical expenses), Supplemental Security Income (SSI), the Supplemental Nutritional Assistance...more
For some people with disabilities, homeownership may present a uniquely empowering opportunity. But for many others, purchasing a home through a special needs trust may be in the beneficiary’s best interests. Homeownership...more
ABLE accounts, new tax-free saving accounts for people with disabilities, hold great promise for special needs planning. But among the many questions surrounding ABLE plans is who can open accounts? Only the person with a...more
A Third-Party Special Needs Trust (also referred to as a “Supplemental Needs Trust”) allows parents or other relatives of a special needs beneficiary to dedicate assets to the beneficiary by gift or inheritance without...more
On December 13, 2016, President Obama signed the 21st Century Cures Act. One of the more relevant aspects of the law to estate and special needs planning is found in Section 5007 of the Act, which is called “Fairness in...more
In 1993, Congress enacted Section 1917(d)(4)(A) of the Social Security Act, authorizing the establishment of special needs trusts (also called first-party trusts and self-settled trusts). First-party special needs trusts...more
Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more