Estate Planning Isn’t Just For The Elderly
A First-Party Supplemental Needs Trust (SNT) can secure a stable financial future for your child with special needs without disqualifying them from benefits like Medicaid. The execution of this trust, however, depends greatly on your choice of trustee. When selecting...
When it comes to ensuring the financial security and well-being of a loved one with special needs, many families face unique challenges. A special needs trust can be a powerful tool in addressing these challenges, providing a stable financial foundation for the...
Having a child with a disability often requires some long-term planning. This is especially true if your child's disability is likely to interfere with his or her ability to work. After all, while there are some public benefits available to those who cannot work,...
Whether you depend on Medicaid benefits as a disabled person or have concerns about a loved one in this position, it is helpful to review the options that you have and take steps to work toward financial security. For some disabled people, special needs trusts play an...
Loving parents want their children to have every advantage. Helping a child with a developmental disability get a quality education raises unique challenges that other parents do not have to face. While a college fund may seem like an excellent idea when a child is...
People with disabilities or chronic illnesses require more specialty care than other individuals. Unfortunately, these expenses add up quickly and can drain finances. One way to reduce financial strain is to open a Special Needs Trust. The beneficiary, who is a...
Having a special needs child changes many things in your life, especially if your child will need care for the rest of his or her life. You will likely not be around the whole time, so you need to do some special needs planning as part of your estate planning process....
A major concern for many parents of children with special needs is what their children will do when they are no longer around to help. More than establishing a trust, writing a letter of intention or instruction can help ensure that a child gets the exact care they...
If you have a relative with a disability for whom you are responsible, then you will need to do special needs planning along with your typical estate planning. You want to be sure your loved one has his or her care in order should something ever happen to you....
If you are caring for someone you love with special needs, you may consider how a trust can help at some point. The purpose of a trust established for someone with special needs is to manage assets outside of the government benefits he or she receives. There are three...