Estate Planning

Two estate planning attorneys have written a highly readable overview of the fundamentals every family needs to consider when planning for the future of a person with special needs.

Private retirement savings plans, like IRAs and 401(k)s, have become the main way for American families to save for retirement. But parents of children with special needs need to be vigilant when signing up for a retirement plan or company...

A recent New York case highlights the importance of planning in advance for a child with special needs, as well as of choosing the proper advocate for your child.

The trustee of a special needs trust (SNT) has all of the duties of any trustee, plus specific added responsibilities due to the special needs of the beneficiary. All trustees are responsible for: Appropriate investment of trust property Bookkeeping and accounting of...

Choosing a trustee is one of the most important and difficult issues in special needs trusts. The trustee must have the necessary expertise to manage the trust, including making proper investments, paying bills, keeping accounts, and preparing tax returns. A...

Last month we discussed some initial things that every trustee of a special needs trust should do upon learning that the primary beneficiary has passed away. Now, we'll explore additional steps to consider when closing out the trust.

In some cases, the donor of a special needs trust may want to provide an extra level of assistance to the trust's beneficiary by naming a trust adviser to assist the trustee with trust management. ...

In the first part of a two-part series, we explore initial steps for trustees to take when it comes time to terminate a special needs trust.