Creating an Estate Plan that Benefits a Child with Special Needs
Children with disabilities may require more financial assistance and on-going personalized care that requires significant planning and structure. Most parents find that a special needs trust is their best option for accomplishing their goals to provide continued assistance. There are many benefits to having a special needs trust in place. The main benefit being that […]
3 Action Steps to Protect Your Special Needs Child
As the parent of a special needs child (a developmental or intellectual disability that requires additional support), you know there are many tasks and responsibilities required daily to protect your child. There are also 3 estate planning concerns that you should address immediately. Appoint a guardian. Make sure you have a validly executed Last Will […]
Top 5 Reasons You Need an Estate Plan Regardless of How Much Money You Have
Estate planning involves a lot more than wealth distribution and tax avoidance. Everyone over the age of eighteen needs a proper estate plan to protect current and future assets as well as safeguarding your health. Let’s take a look at the Top 5 reasons you need an estate plan: Managing and Distributing Assets. Regardless of […]
How to File Taxes for a Special Needs Trust
Taxation of Special Needs Trusts Typically, a special needs trust is set up for someone who has certain disabilities that allows him or her to receive government benefits. To qualify for many of these benefits your net worth and income levels must remain below specified thresholds. To allow someone to own additional assets, those assets […]
What is a Non-Grantor Trust?
With tax season in full swing and the filing deadline approaching, many wonder how trusts are taxed. That depends on the type of trust. The main difference between a grantor and non-grantor trust is how they are taxed. With a grantor trust, the grantor retains some control over the assets in the trust. A non-grantor […]