Special Needs Trusts

For your New Year’s resolution, consider setting up a special needs trust and providing financial security for your loved one. Read on to find out why a special needs trust is the resolution every family with a disabled loved one should make! Continued Medicaid Eligibility One way a special needs trust can help your disabled…
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As the new year begins, many of us are filled with hope and a sense of possibility. New beginnings are always refreshing – but if we’re honest, sometimes a new year doesn’t feel all that new – especially when it comes to those who care for disabled loved ones on a regular basis.  Thankfully, there’s…
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Many people believe that a special needs trust is only useful for parents of special needs children. While these parents and their children certainly do benefit from setting up a trust, many other situations can be helped by a special needs trust — most notably, when a disabled person possesses more than $2,000 in assets…
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While it may be possible for your special needs child to live independently as an adult, you might be worried about what will happen to them after you die. If you’re not there to care for them and provide for them financially, how will they function? It’s a good question, and fortunately, Alabama Family Trust…
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Estate planning is essential for families and single people alike, and a good estate plan includes effective asset protection measures. When it comes to your disabled loved one, you may want to consider a specific type of special needs trust called a “spendthrift trust.” But what is a spendthrift trust, and how could it be…
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We’ve talked before about the complicated and misunderstood federal gift tax system, which places (very loose) limits on how much an individual can give away without having to pay a gift tax. Today, we’ll focus more on giving gifts specifically to special needs trusts – and in particular, on the size of those gifts. Do…
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When it comes to your disabled child or aging parent, there are many financial considerations to be made every day. Paying for medical bills, transportation, and daily care is something that is probably always on your mind. But have you considered the financial predators that may be targeting your loved one? Keep reading to learn how to…
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When it comes to special needs planning, the federal gift tax system is a very misunderstood beast. The main reason for this is that it’s incredibly complicated, and so people end up thinking it works one way when it really doesn’t! Because it’s so hard to understand, a common misconception is that you can only…
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If you’ve done any amount of research on setting up a special needs trust, you’ve probably figured out that you can’t do it for free (and if you’ve found a source that says otherwise, run the other way before it’s too late!). You may be trying to think of ways to get around that expense…
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Nearly everyone uses some form of transportation on a consistent basis, but the need for a safe, reliable vehicle is especially important for people with special needs. Government benefit programs such as Supplement Security Income (SSI) and Medicaid impose an asset ceiling as a condition of qualification, which is a major reason to set up…
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