Raising a child with special needs is hard on marriage. Today, the divorce rate among all couples is over 50%. Although statistics differ, there is no question that divorce rates are even higher among parents of children with special needs. When a couple divorces, it is even more important to consider the financial needs of… Read More »
Posts Categorized: Special Needs Trust
The Difference Between SSI and SSDI is More than Just a Letter
Many people, including lawyers, confuse two very different government programs for disabled persons. Although both are overseen by the Social Security Administration (SSA), there are some significant differences both in how the programs are funded, and to whom the money is distributed. Social Security Disability Income (SSDI) SSDI is a program for disabled persons. It… Read More »
Why Use a Special Needs Pooled Trust?
When is it appropriate to choose a pooled supplemental needs trust instead of an individual special needs trust? A pooled trust has many of the same purposes as an individual supplemental needs trust. A pooled trust is established to provide for a beneficiaries’ supplemental needs without jeopardizing the disabled person’s government benefits. Funds that are… Read More »
Special Needs Trusts and Personal Injury Settlements
When a disabled person receives a personal injury settlement, it is often a good idea to set up a Supplemental Needs Trust to receive those monies in order that any public benefits the disabled person receives not be disrupted or lost altogether. Money received in a personal injury lawsuit are considered to belong to the… Read More »
Action Plan–8 Weeks to a Letter of Intent
Comprehensive planning for your child with special needs includes both legal planning to ensure financial security and information-gathering in order to write a guide for future caregivers. My hope is to alleviate some of the worries and unique concerns parents face when thinking about the future of their special needs children. The Letter of Intent… Read More »
Choosing a Trustee for Your Special Needs Trust: Part Three
In Part One and Part Two of Choosing a Trustee for Your Special Needs Trust, I described the numerous duties of a Special Needs trustee and the different factors that must be considered in choosing the trustee. In this final post, I offer some suggestions as to how to make that choice in order to… Read More »
Choosing a Trustee for Your Special Needs Trust: Part Two
In Part One of Choosing a Trustee for Your Special Needs Trust, I discussed all the different responsibilities and jobs a trustee must fulfill to properly administer the trust. It is also important to really assess both the current and potential future needs of your child. Considerations to Use in Choosing a Trustee There are… Read More »
Choosing a Trustee for Your Special Needs Trust: Part One
Choosing a trustee to manage your child’s Special or Supplemental Needs Trust is one of the most difficult decisions you will have to make. That decision alone often stops parents from taking the next step of setting up an appointment with an attorney who has expertise with drafting Special Needs Trusts. After all, how can… Read More »
Is Funding a Special Needs Trust a Guessing Game?
How do parents of children with special needs, whether that child is 5 or 35, predict just how much money their disabled child will need for their future comfort? There are many variables to consider, including: life expectancy; the rate of inflation; investment return; the amount of benefits the government will provide decades from now… Read More »
How Life Insurance Can Help Your Special Needs Child
Many parents are concerned about how they can fund a supplemental needs trust, especially in these rough economic times. Parents are also concerned about how their other children will feel if they divide their estate assets unevenly, providing more for their siblings with disabilities. These siblings might have even more resentment if they end up… Read More »