Wait, is this a college course? Nope. It is an overview of Special Needs Trusts (thus the SNT) and what they offer for disabled Alabamians as a complement to governmental entitlements such as Supplemental Security Income (SSI) and Medicaid. Use this information as a refresher for yourself or send the link to someone you know who needs a good understanding of what SNTs offer. What is a Special Needs Trust? A Special Needs Trust (SNT), sometimes called a Supplemental Needs Trust, is a trust that helps protect a disabled individual’s assets. Assets are placed in an SNT which allows the … [Read more...]
Start at the End – Pre-need Funeral Plans
Start at the End When reading a book, you don’t usually read the last page first. However, a representative should take care of that last page as soon as a special needs trust is established for an elderly loved one (a life beneficiary). Why? Because by law, a special needs trust is frozen as soon as a life beneficiary dies – not after the funeral. That means that funeral expenses can ONLY be funded through the Special Needs Trust IF the expenses are handled IN ADVANCE of the life beneficiary’s death. And funerals can cost a lot with embalming or cremation, casket or urn, burial plot and … [Read more...]