Elder Law and Estate Planning Attorney
A New Jersey man has been charged with stealing $330,000 from the special needs trust (SNT) of a man living in a long-term care facility. The case highlights the importance of having a professional trustee manage a special needs trust. Read More …
One area that particularly vexes trustees of special needs trusts is how to get beneficiaries what they need without running afoul of the strict rules for public benefits like Supplemental Security Income (SSI). Monitoring how money is being spent, collecting Read More …
People not familiar with children with special needs often find it surprising when we explain our areas of expertise are estate planning, long term care planning, elder law and special needs planning. They usually haven’t considered that children with disabilities Read More …
Even when you’ve taken all the precautions, met with an estate planning attorney and have all your documents and financial planning done, there are several times when you will want to make changes, or at minimum, re-evaluate, your estate plan. Read More …
A stretch IRA was an estate planning strategy that applied to an Individual Retirement Account (IRA) inherited by a non-spouse, such as a child beneficiary. By using the stretch strategy, IRAs could be passed on, taking advantage of tax-deferred and/or tax-free Read More …
It is possible that an individual, once diagnosed as a person with special needs, sometime in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved through remission or medical treatment, for Read More …
Thanks to recent changes in the tax law, families can now make limited transfers from existing 529 accounts to ABLE accounts with no tax consequences. Families with special needs children may be thinking about rolling existing 529 funds into ABLE Read More …
Many parents have their retirement savings socked away in 401(k)s and IRAs. So that your beneficiaries do not have to pay taxes on the funds prematurely, it’s important to properly structure the beneficiary designations for these accounts. Unfortunately when a Read More …
In December of 2014, the federal government enacted the Achieving a Better Life Experience Act (“ABLE Act”). The ABLE Act allows states to establish tax-free savings accounts for individuals with disabilities to pay expenses not covered by government benefit programs. Read More …
On December 19, 2014, the Achieving a Better Life Experience Act (“ABLE Act”) became federal law. The ABLE Act allows the use of tax-free savings accounts for individuals with disabilities to cover expenses not covered by government sponsored programs. The Read More …
