5 Issues to Consider When Creating a Special Needs Trust
Here are some of the questions you will need to consider in guiding your attorney to create a special needs trust.
Here are some of the questions you will need to consider in guiding your attorney to create a special needs trust.
If your child has special needs, a standard estate plan -- will, trust, power of attorney, and health care proxy -- may not be adequate for your family. Here are three must-have documents...
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.
What is special needs planning and how can special needs trusts help people with special needs?...
One of the most commonly asked questions about special needs trusts is what can the trusts pay for without affecting the beneficiary's public assistance?...
Third-party special needs trusts, as the name implies, are funded with assets that never belonged to the trust beneficiary, and they provide several advantages over the other two types of special needs 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.
The choice of trustee is one of the most important decisions you’ll make regarding your special needs trust. Here are five questions to keep in mind when considering who will serve in this crucial role.
