A lawsuit settlement must protect the injured person's long-term financial interests, health and quality of life. Here are five key questions that should be answered before settling a personal injury claim.
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.
Trustees of special needs trusts generally have wide discretion in determining whether to distribute funds to trust beneficiaries. But if the person with disabilities receives SSI, care should be taken when using trust funds to pay for housing.
For years, the Social Security Administration (SSA) has placed strict limitations on when special needs trusts can distribute payments to family members for travel expenses. But things just got a little easier. ...
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.
In an underreported case involving police violence, the state of California has agreed to pay nearly $1 million to a man with schizophrenia. The money will be placed in a special needs trust (SNT). ...
To be eligible for Supplemental Security Income (SSI), an applicant can have no more than $2,000 in assets. However, not all assets count towards the $2,000 limit.
When victims win personal injury lawsuits, obtaining the award is only half the battle. Of equal, or greater, importance is constructing the settlement in a way that best protects the individual's long-term interests.
