When you’re planning for the future of a loved one with a disability, ensuring they have financial support without jeopardizing their access to benefits is key. Two common options, ABLE Accounts and Special Needs Trusts, each offer distinct ways to manage funds while safeguarding eligibility for essential government programs. These financial tools...
Pooled Special Needs Trusts offer families a thoughtful way to support their loved ones with disabilities. By pooling resources with other families, you can help ensure your family member has access to funds for essential expenses such as medical care, education, and daily living while preserving their eligibility for government benefits. It's...
As a legal adult aged 18 or over, you are responsible for managing your assets and debts, which constitute your estate. Although most young adults have a long life ahead of them, unexpected events can occur, leaving you incapacitated or even resulting in loss of life.
Accidents and illnesses...
A child’s 18th birthday is an exciting occasion for both themselves and their parents. In the U.S., most children are given adult status at 18, meaning they become legally responsible and thus able to make their own choices without parental permission.
For a special-needs child, turning 18 is even...
Caring for a family member with special needs, whether a child or a dependent adult, presents unique challenges. Many families worry about how their loved ones will be cared for after they pass, especially if they can’t work full-time or have ongoing medical concerns that require special care.
Fortunately,...
On December 7, 2016, the Senate approved the 21st Century Cures Act, which includes the Special Needs Trust Fairness Act, allowing competent individuals with disabilities to create their own special needs trusts.
Special Needs Trusts enable assets to be saved on behalf of people with disabilities, while protecting their eligibility for means-tested benefits. Programs such as...
