Ruder Ware's Elder Law Team Recognizes National Special Needs Law Month - Part 2
Special Needs Trusts (SNTs) protect assets for individuals with disabilities while preserving eligibility for public benefits like SSI and Medicaid. Establishing an SNT early allows for long-term financial planning,...more
Managing a Special Needs Trust (SNT) comes with tremendous responsibility. Trustees are not only tasked with safeguarding the financial future of a beneficiary with special needs, but they must also ensure that trust assets...more
As an estate planning attorney practicing in Pennsylvania with a strong focus on special needs planning, I frequently work alongside personal injury counsel to address a critical but often overlooked consequence of...more
Estate planning is a crucial process for anyone looking to protect their family and assets, but for families with a loved one who has special needs, it requires additional considerations. Without proper planning, a...more
Careful planning for a loved one with disabilities is one of the most important and compassionate acts you can take as a parent or caregiver. It’s not just about securing their financial future, it’s about preserving their...more
Careful planning for the future of a loved one with disabilities is crucial. Consider using legal entities such as a special needs trust to protect their ability to qualify for government benefits while meeting their...more
Choosing the right person to serve as trustee of a special needs trust (SNT) is a key task when creating such a trust. It may also prove to be one of the most challenging. Trustees are responsible for the following: ...more
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
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
Funds held in a properly drafted special needs trust (SNT) will not affect a Supplemental Security Income (SSI) or Medicaid recipient’s benefits. However, funds disbursed in a manner that violates SSI or Medicaid rules can...more
In a recent Michigan Court of Appeals case, In re Special Needs Trust for the benefit of Talonda Moss, Docket No 357836, 2022 WL 2760235 (Mich Ct App Jul 14 2022), the court ruled on whether a trust created for a disabled...more
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
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
A Third-Party Special Needs Trust (also referred to as a “Supplemental Needs Trust”) allows parents or other relatives of a special needs beneficiary to dedicate assets to the beneficiary by gift or inheritance without...more
Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more