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Estate Planning › Special Needs Trust

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... more +
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 -
Hendershot Cowart P.C.

Family Members Living With Dementia: Guardianship and Guardianship Alternatives

Hendershot Cowart P.C. on

Celebrities like Jay Leno and Emma Hemming Willis (married to Bruce Willis) are speaking out about their experiences with guardianship and caregiving. If you are caring for a family member with dementia too, a time will...more

Kohrman Jackson & Krantz LLP

Are You Ready for National Make-a-Will Month? Ten Essential Questions You Need to Answer

Kohrman Jackson & Krantz LLP on

August is “National Make-a-Will” Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what...more

Kohrman Jackson & Krantz LLP

The Role of AI in Estate Planning: Benefits and Limitations

Kohrman Jackson & Krantz LLP on

As AI increasingly becomes part of our everyday lives, individuals and families are exploring the use of AI programs to prepare estate plans. The answer to whether AI can be used for this purpose is, of course, yes. AI...more

Rivkin Radler LLP

Estate Planning for Families with Children Who Have Special Needs

Rivkin Radler LLP on

A supplemental needs trust (SNT) is an important estate planning tool for those with a special needs child. It ensures that your special needs child is taken care of after you are gone. Unlike other types of trusts, assets...more

Chambliss, Bahner & Stophel, P.C.

Supplemental vs. Special Needs Trusts: Any Difference?

Chambliss, Bahner & Stophel, P.C. on

Have you heard the terms “special” needs trust and “supplemental” needs trust and wondered what the difference is? The simple answer is that there’s no difference. Whether supplemental or special, these trusts serve the...more

Warner Norcross + Judd

Trusts 101, Part 3 – Trust Acronyms Explained

Warner Norcross + Judd on

Trusts serve a variety of tax, asset protection and estate planning purposes for families, and over the years different types of trusts have evolved to best serve families’ planning needs and objectives. Each type of trust...more

Chambliss, Bahner & Stophel, P.C.

Navigating Sleepless Nights: A Mother’s Guide to Special Needs Planning

Chambliss, Bahner & Stophel, P.C. on

I was driving to work on August 24, listening to Lady Gaga on my Pandora radio station, when suddenly, I had a strong urge to call my younger daughter, Hannah. We talk regularly, so it isn’t unusual that I call her on my way...more

Husch Blackwell LLP

Special Needs Planning: Special Needs Trusts and ABLE Accounts

Husch Blackwell LLP on

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

Chambliss, Bahner & Stophel, P.C.

Responsibilities of a Special Needs Trust Trustee

Chambliss, Bahner & Stophel, P.C. on

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

Chambliss, Bahner & Stophel, P.C.

Do You Need a Trust?: Estate Planning Q&A

Chambliss, Bahner & Stophel, P.C. on

According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are:.....more

Bowditch & Dewey

Beyond Taxes: 10 Important Reasons Why Everyone Needs an Estate Plan

Bowditch & Dewey on

People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more

Lathrop GPM

Minnesota Court of Appeals Rules Power of Attorney Insufficient to Amend Revocable Trust

Lathrop GPM on

On January 30, 2023, the Minnesota Court of Appeals issued an opinion in In re Eva Marie Hanson Living Trust addressing the ability of an attorney-in-fact to amend a revocable trust on behalf of an incapacitated trust...more

Winstead PC

Court Refused Mandamus Relief Due To Party’s Failure To Ask Trial Court To Issue New Special Needs Trust

Winstead PC on

In In re Pitts, the parties in a case settled and had a special needs trust drafted. No. 05-22-00542-CV, 2022 Tex. App. LEXIS 4143 (Tex. App.—Dallas June 16, 2022, original proceeding)....more

Woodruff Sawyer

Is a Special Needs Trust Right for You?

Woodruff Sawyer on

If you have a child or another loved one with special needs, it’s only natural to worry about their future. How can you make sure their financial needs are taken care of without jeopardizing their public assistance payments?...more

Adler Pollock & Sheehan P.C.

Can an ABLE Account Benefit Your Family?

Adler Pollock & Sheehan P.C. on

A family with a disabled child faces difficult planning challenges. For many years, the most effective estate and financial planning tool for parents of a disabled child was a special needs trust (SNT). This trust type...more

Ruder Ware

Ruder Ware's Elder Law Team Recognizes National Special Needs Law Month - Part 2

Ruder Ware on

My name is Attorney Jessica Merkel. As we shared earlier this month, October is Special Needs Law Month. Since this is part two of our two-part series, we wanted to recap that in our first part we shared with you some...more

Robins Kaplan LLP

The Robins Kaplan Spotlight VOL. 5 NO. 1 Spring 2020

Robins Kaplan LLP on

The Spotlight is the result of ongoing collaboration between our national trial practice and estate planning groups, with the goal of providing a forum to discuss the latest news and other issues impacting the trusts and...more

Chambliss, Bahner & Stophel, P.C.

"Failing to Prepare Is Preparing to Fail"

Chambliss, Bahner & Stophel, P.C. on

At 5:30 a.m. my phone started ringing. I am an early riser, but I have to say that I almost never get calls that early in the morning. In fact, that is my quiet time when I drink my coffee, think about my day ahead, and...more

Chambliss, Bahner & Stophel, P.C.

If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate

Chambliss, Bahner & Stophel, P.C. on

Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...more

Chambliss, Bahner & Stophel, P.C.

Understanding the Differences Between a Living Trust and an Irrevocable Trust

Chambliss, Bahner & Stophel, P.C. on

You may be thinking about setting up a trust to protect your assets, save on estate taxes, or perhaps set aside money for a special needs family member. Before you commit to a plan, make sure you understand the differences...more

Chambliss, Bahner & Stophel, P.C.

Making Gifts for Persons Who Have Special Needs

Chambliss, Bahner & Stophel, P.C. on

The end of the year is approaching and the holidays will soon be in full swing, a time when many people are getting ready to make gifts to their family members. Not only is this a great way to show love and support to...more

Chambliss, Bahner & Stophel, P.C.

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

Chambliss, Bahner & Stophel, P.C. on

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...more

Chambliss, Bahner & Stophel, P.C.

Five Questions to Ask Yourself When Choosing a Trustee for Your Special Needs Trust

Chambliss, Bahner & Stophel, P.C. on

If you are in the process of setting up a special needs trust, you must appoint a trustee. This is one of the most important decisions you’ll make about the trust. The trustee must have the necessary expertise to manage the...more

Ruder Ware

My Parents Want to Leave My Son With Special Needs an Inheritance...Will He Lose His Benefits?

Ruder Ware on

Leaving an inheritance to a loved one with special needs who is or will be receiving government benefits (SSI, medical assistance, long term care services) is tricky and can have unintended negative consequences if not done...more

Chambliss, Bahner & Stophel, P.C.

Moving? Make Sure Your Special Needs Planning Moves With You

Chambliss, Bahner & Stophel, P.C. on

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

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