News & Analysis as of September 23, 2024

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Special Needs Planning: Special Needs Trusts and ABLE Accounts

Husch Blackwell LLP on 9/6/2023

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

Responsibilities of a Special Needs Trust Trustee

Chambliss, Bahner & Stophel, P.C. on 7/14/2023

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

Moving? Make Sure Your Special Needs Planning Moves With You

Chambliss, Bahner & Stophel, P.C. on 7/17/2019

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

Special Needs Trusts Update

Flaster Greenberg PC on 2/4/2019

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

Should a Special Needs Trust Buy a Home for a Beneficiary?

Chambliss, Bahner & Stophel, P.C. on 1/29/2019

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

Who Can Set Up the ABLE Account?

Chambliss, Bahner & Stophel, P.C. on 11/13/2018

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

21st Century Cures Act Remedies Longstanding Special Needs Trust Issue

Genova Burns LLC on 1/6/2017

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

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