Qualified Disability Trusts Can Offer Tax Savings
Some special needs trusts may be eligible for considerable tax savings. Here's how.
Some special needs trusts may be eligible for considerable tax savings. Here's how.
Credit cards offer a way for the trustee of a special needs trust to avoid giving a beneficiary cash while at the same time not serving as the beneficiary's designated shopper.
When a child with special needs is setting aside money for college, a 529 Plan may not be the best option. Here are some things to think about when family members ask about the best way to provide funds for...
Here are some of the questions you will need to consider in guiding your attorney to create a special needs trust.
Retirement accounts like 401(k)s and IRAs make up the majority of most people's savings. While these plans encourage saving by offering significant tax rewards, they were certainly not set up to help families with special needs.
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.
Many parents have their retirement savings socked away in 401(k)s and IRAs. There are ways for beneficiaries to avoid paying taxes on the funds prematurely, but when a beneficiary has special needs, things get thorny.
People wishing to help someone with special needs save for their future without jeopardizing the recipient's public benefits can now do so using a "Gift of Independence" card.
Low-income seniors and people with disabilities could save up to $7,500 this year through the Senior Tax Credit for the Elderly and Disabled. ...
