Category: Special Needs Planning

April 6, 2018 admin

While the execution of wills requires formalities like witnesses and a notary, the reality is that much property passes to heirs through other means that often lack the protections of a properly drafted will or trust.   Many bank and investments accounts, as well as real estate, have joint owners who take ownership automatically at…

February 20, 2018 admin

Older parents are becoming more common. Whether it is societal, educational, maturity or debt related (academic debt), our society, in general is having families later in life, sometimes much later. But later-in-life parents have special estate planning and retirement considerations.   The first consideration is to make sure you have an estate plan and that…

January 15, 2018 admin

What is a Special Needs Trust? A Special Needs Trust is a trust, authorized under federal law, that holds the funds of a disabled beneficiary and allows the beneficiary to qualify for means tested public benefits like Medicaid and Supplemental Security Income (SSI). Were those same assets owned directly by the disabled person, they would…

December 26, 2017 admin

Interested in Learning the New Tax Brackets? 1. Standard Deduction: The new tax law changes the standard deduction to $12,000 on single returns, $18,000 for head-of-household filers and $24,000 on joint returns … up from $6,350, $9,350 and $12,700 in 2017.  Individuals age 65 or older and blind people get even higher standard deductions. Two…

December 12, 2016 admin

New Law Allows People with Disabilities to Create Special Trust Finally. The Special Needs Trust Fairness Act, federal legislation that will allow people with disabilities to create their own special needs trusts instead of having to rely on others, has passed the Congress. The measure was included in the 21st Century Cures Act, a $6.3…

August 25, 2015 admin

This is a tricky question because every power of attorney is different and therein lies the confusion.  There are two types of triggers for an agent under a power of attorney to be authorized to start acting for the principal.  The first is a Springing Power of Attorney.  In this type of instrument there is…