by Andrew Sykes | Aug 12, 2016 | Elder Law - General, Related - Special Needs, Special Needs Trusts, Trusts, Wills
Some disabled individuals may now obtain tax-advantaged accounts, similar to 529 college savings accounts, to pay for expenses related to disability. These accounts result from the Achieving a Better Life Experience (ABLE) Act passed by Congress in 2014. Allowable...
by Andrew Sykes | Apr 26, 2016 | Elder Law - General, Related - Special Needs, Special Needs Trusts, Trusts
Many disabled individuals in the U.S. receive public benefits from programs that place restrictions on the dollar amount (typically $2,000) of assets a recipient can own. Medicaid and SSI are two examples. Federal and state law allow the establishment of certain...
by Andrew Sykes | Feb 16, 2015 | Caregivers, Related - Special Needs, Special Needs Trusts
A special needs trust holds assets (usually funds) for the benefit of a disabled person without affecting any public benefits the person may receive, such as SSI or Medicaid. Those assets can then be used for the disabled person’s benefit. Current law allows a...