Estate Planning for Children with Disabilities: Trusts, ABLE Accounts, and Benefit Protection
Estate planning for children with disabilities often requires more than traditional financial planning. These plans must account for long-term care, access to public benefits, and ongoing support tailored to each child’s unique circumstances. Many parents choose a supplemental or disability-focused trust to provide ongoing support without affecting eligibility for Medicaid or SSI. These trusts let […]
3 Action Steps to Protect Your Special Needs Child
Raising a child with a developmental or intellectual disability involves constant care, advocacy, and planning. Daily life can feel overwhelming—and long-term decisions are just as important. Raising a child with a developmental or intellectual disability (commonly referred to as special needs) involves constant care, advocacy, and planning. Daily life can feel overwhelming; however, long-term decisions […]
Top 5 Reasons You Need an Estate Plan – Regardless of How Much Money You Have
An estate plan—regardless of income—is essential for everyone over 18. Estate planning isn’t just about wealth or taxes. A thoughtful plan protects your health, assets, and family. Let’s take a look at the Top 5 reasons you need an estate plan: Managing and Distributing Assets No matter how much you own, your assets should be […]
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 filing deadlines approaching, people often ask how different types of trusts are taxed. he answer depends on how the trust is structured. The main difference between a grantor trust and a non-grantor trust lies in how the IRS treats their income for tax purposes. In a grantor trust, […]