Trusts

Would You Like A Will With That Special Needs Trust?

July 24, 2013

Several parents have contacted me recently about setting up stand-alone special needs trust for their children. Unlike a supplemental needs trust that is created in a Will and funded at death, a stand-alone special needs trust is established during one’s lifetime and funded immediately. Clients are often prompted to establish a stand-alone trust because relatives […]

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Guidance For Trustees of Special Needs Trusts

April 10, 2013

If you have been named as the trustee of a special needs trust, you likely have many questions about how to administer the trust. You can get many of the answers you need in the Special Needs Alliance Guidebook for Special Needs Trustee. This excellent guide provides definitions of unfamiliar words, distinguishes self-settled special needs […]

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Should I Disinherit My Disabled
Child to Protect His Benefits?

April 3, 2013

Parents whose children are receiving government benefits, such as SSI and Medicaid, know that those benefits are means-tested. Those with countable assets greater than $2,000 can lose their eligibility to receive SSI and Medicaid. So they worry about leaving an inheritance to a child who may be receiving these benefits. To avoid disqualifying their children […]

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What is a Spendthrift Trust?

November 28, 2012

As parents, we all do our best to instill our good values in our children. But sometimes, despite all our guidance, our children make poor personal and financial decisions. Their poor judgment may be a due to a lack of maturity that is temporary, or perhaps a long-term problem stemming from alcohol and drug abuse […]

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Will a Uniform Transfers to Minors Account Negatively Impact My Child With Special Needs?

November 14, 2012

Uniform Transfers to Minors Accouts (UTMA) accounts are an easy and inexpensive way for parents, grandparents and other well meaning individuals to make irrevocable gifts to minors without the expense of creating a formal trust. They are easily established by opening the account in the custodian’s name “as custodian for [name of minor] under the […]

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Should I Designate My Children’s Guardian as Beneficiaries of My Life Insurance Policy?

July 18, 2012

I spoke to a young mother several weeks ago who wanted information on how to legally name a guardian for her minor children. She explained that she and her husband had already designated her parents as the beneficiary of their life insurance and retirement plans, but they wanted to make sure her parents also got […]

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