WHAT ARE THE ALTERNATIVES TO A SPECIAL NEEDS TRUST?
Gift to Beneficiary. This is not a good idea, because it would make the beneficiary ineligible for many public benefits. These would include: SSI Medicaid New Jersey FamilyCare Veterans Benefits SNAP (Food Stamps) Low Income Home Energy Assistance Program (LIHEAP) and many others Ignore the Person with Disabilities. This is not a good idea, because…
THE IMPORTANCE OF A LIFE PLAN FOR INDIVIDUALS WITH DISABILITIES
Being the parent of a child with disabilities is certainly not easy. Things that parents should think about early on are: Who will care for my child when I am unable to do so? Where will my child live? What will be required to support my child to the standard of living I would like…
The Impact Of Fundraisers On Beneficiaries With Disabilities – Begley Report
by Thomas D. Begley, Jr., CELA CRISIS AND KINDNESS In times of crisis, people often show just how caring humanity can be. Major humanitarian relief efforts respond to large-scale natural and unnatural disasters. Strangers donate time and money to individuals injured in tragic accidents. Often, the first instinct when you learn that someone is hurt…
HOW IS A SPECIAL NEEDS TRUST TAXED?
Trust tax rates are usually much higher than individual tax rates. This is because the top federal income tax rate for trusts is 37% on income at just over $15,000. An individual does not hit the 37% tax rate until earning are over $626,350. Individual tax rates do not hit 12% until the individual’s income is…