Understanding the Differences Between a Living Trust and an Irrevocable Trust
You may be thinking about setting up a trust. Before you commit to a plan, make sure you understand the differences between the two basic types of trusts. ...
You may be thinking about setting up a trust. Before you commit to a plan, make sure you understand the differences between the two basic types of trusts. ...
Among the many challenges for families is making sure there will always be enough money to provide lifetime care for special needs children. One solution is to fund a special needs trust with life insurance.
A good special needs plan involves many key players, including a guardian, a health care proxy, an executor, a trustee and possibly a trust protector. It’s a good idea to review these selections on a regular basis, because change is inevitable.
Members of the extended family and friends can also make gifts to a special needs trust once it has been set up.
If you have funds in an IRA that will be distributed to a special needs trust upon your death, it is usually best to stretch these distributions out over as long a period as possible for income tax purposes.
According to court documents, legendary singer Aretha Franklin did not have a will when she died, meaning there are no specific protections for a son with special needs.
Administrator-managed prepaid debit cards offer beneficiaries of special needs trusts greater independence, but up till now such cards existed in a regulatory gray area.
Guardianship hearings are typically little more than a formality for parents of children with special needs who cannot live independently once they reach age 18. But this was not the case for Texas parents Christy and Mark Zartler.
A 29-year-old Virginia woman with Down syndrome is fighting her mother's attempt to obtain guardianship in a case that has drawn attention to the tenuous balance between laws that seek to protect people with special needs while affording them maximum...
