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
It is possible that an individual, once diagnosed as a person with special needs, sometime in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved...more
Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is...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
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
New savings accounts for families of people with disabilities, known as ABLE accounts, are rapidly becoming available nationwide as programs continue to roll out on a state-by-state basis. But this new savings option, as...more
ABLE (Achieving a Better Life Experience Act) accounts have become a popular savings tool for special needs individuals since the ABLE Act became law in December of 2014. Now that such accounts have been in existence for few...more