Will a Contribution to an SNT Qualify for the Gift Tax Exclusion?
Does a gift of $14,000 this year to a special needs trust (SNT) qualify for the annual gift tax exclusion?
Read moreNot from a public benefits perspective. A person is entitled to have any number of SNTs. However, from a practical standpoint it could be messy, especially if the trusts are run by different people and these people do not get along. For example, if the beneficiary needs a cell phone bill paid, which trust will agree to pay it? Will one trustee decide not to make any payments until the other trust is terminated? However, if the trustees get along and work on a budget together, it should work fine.
For more articles about special needs trusts, click here.
Local Special Needs Planners in Your City
Does a gift of $14,000 this year to a special needs trust (SNT) qualify for the annual gift tax exclusion?
Read more
The U.S. Supreme Court has agreed to hear a case that could influence how millions of special needs children are edu...
Read more
A recent Parade magazine article highlights the problems that young adults face when they "age-out" of special ed...
Read more