Limitations on Special Needs Trusts
BACKGROUND Many clients who receive personal injury settlements are receiving important public benefits, such as SSI and Medicaid. SSI is an income stream that pays an individual monies intended to be used for food and shelter. For 2015, the maximum federal benefit rate is $733. In New Jersey, there is a state supplement of $31.25….
2009 REVISIONS TO THE SOCIAL SECURITY ADMINISTRATION POMS RELATING TO SPECIAL NEEDS TRUSTS
In January of 2009, the Social Security Administration (SSA) made a number of changes to the POMS relating to both first party and third party special needs trusts. These changes affect the drafting and administration of Special Needs Trusts and drafting Court Orders establishing self-settled special needs trusts. Pooled trusts are also covered in the…
The Beneficiary Designation Trap And Disabled Children
Many children with disabilities are receiving means-tested public benefits, such as SSI and Medicaid, or may receive such benefits in the future. By leaving monies outright to those children, they will become ineligible for those public benefits, which generally have an asset limit of $2,000. Only about 25% of clients prepare Special Needs Trusts for…
Special Needs Planning: Planning for the Disabled Child
Estate planning for parents of disabled children requires more care and consideration than a simple Will. The financial and personal well being of a disabled child can only be property protected by utilizing special needs planning. This article will focus on the use of special needs trusts for disabled children and their parents. Economically, a…
- « Previous
- 1
- …
- 13
- 14
- 15