There are many different ways to facilitate asset transfers when you are planning your estate. The best way to provide for one person on your list may not be ideal for the next. It is possible to be flexible and create a plan that is tailor-made to suit your specific family dynamic. With this in … [Read More]
Demystifying ABLE Accounts for Individuals With Disabilities
Navigating the financial landscape can be particularly challenging for individuals with disabilities. The introduction of ABLE accounts (Achieving a Better Life Experience) has been a game-changer, empowering them and their families to save for disability-related expenses without compromising their eligibility for vital public benefits. This blog explores the essentials of ABLE accounts and how they … [Read More]
Is There a Person With Special Needs on Your Inheritance List?
There are different ways that you can facilitate asset transfers to the people on your inheritance list. The right way to proceed will depend on the circumstances. Plus, you don’t have to provide for everyone in the same manner. Targeted solutions can be implemented to address the life situation of each respective person. With this … [Read More]
How Can You Include a Person With a Disability in Your Estate Plan?
There are many different tools that can be used when you are planning your estate. It is unwise to assume that you have to settle for limitations or suboptimal outcomes. In most cases, there is a particular device that can serve as the ideal solution. With this in mind, we will look at estate planning … [Read More]
Special Needs Planning Questions Answered
What is special needs planning? In the field of estate planning, steps can be taken to provide for people that are in unique situations. This applies to the facilitation of inheritances to people with disabilities. Why can’t you just name someone with a disability in a simple will? You can certainly do this, but there … [Read More]
Act Wisely to Provide for a Loved One With a Disability
Generally speaking, a person that receives an inheritance will mourn the deceased, but they will be able to put the windfall to good use. From a financial perspective, there will be no downside. However, sometimes an inheritance can cause problems, and we will look at a relatively common scenario in this post. Government Benefit Eligibility … [Read More]
Does Medicaid Seize Remaining Assets in a Special Needs Trust?
The majority of people in the United States get their health insurance through their employer provided plans. Unfortunately, a high percentage of people with disabilities are not in a position to hold jobs, so this is not an option for them. Everyone needs health insurance, but it is especially important for these folks, so the … [Read More]
SSI vs. SSDI: Are There Any Differences?
There are some misconceptions about the government disability programs that carry similar sounding acronyms. In this post, we will explain the distinctions between SSDI and SSI. Social Security Disability Insurance (SSDI) When you earn income, you pay self-employment or payroll taxes that go toward future eligibility for government benefits for seniors. There is a retirement … [Read More]
What Is a Supplemental Needs Trust?
There are pointed approaches that can be taken to address every type of inheritance planning challenge. With this in mind, when you are planning your estate, you should consider the life situation of every person on your inheritance list. A perfectly acceptable way to transfer assets to one person may not be appropriate for the … [Read More]
What Is a Third Party Special Needs Trust?
It is important to be absolutely certain that you are providing for everyone that you love in the ideal manner when you plan your estate. This is why personalized attention is key, because if you make mistakes, your good intentions could ultimately yield negative results. With this in mind, we will look at the value … [Read More]
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