Choosing the right trustee for a special needs trust is crucial for ensuring a loved one receives the care and financial support they need. The trustee's role involves managing the funds and making decisions in the beneficiary's best interest. To ensure success, it's...
Special Needs Planning
Will a special needs trust affect SSI?
For families with a loved one who has a disability, understanding how a special needs trust affects Supplemental Security Income (SSI) is necessary. SSI provides essential financial support, and ensuring that other assets do not interfere with it is a top priority....
Related services: Supporting your child beyond the IEP
As a parent or legal guardian of a child with special needs, you are likely no stranger to the Individualized Education Program (IEP) process. While the IEP is a vital tool in ensuring your child receives a tailored education, it is not the only path to accessing...
Risks of inheritances for adult children with special needs
Parents usually want to provide for their children, including those with special needs. However, leaving a large inheritance directly to an adult child with special needs can cause major problems. This approach might seem like the best way to ensure financial...
How can I calculate future costs for my special needs child?
You know at some point you will not be around to provide care for your special needs child, which has probably already led you to consider taking out a life insurance policy that will pay out benefits to cover the care of your child. A first step is to determine how...
Why you should not delay your special needs planning
Special needs planning is essential for securing your loved one's future, but it is never too early to start the process. It is often in your best interest to consider special needs planning as early as possible. The sooner you begin planning, the more options will be...
3 benefits of special needs long-term care planning
For aging parents with adult children who have special needs, the need for long-term care planning is undeniable. Taking the initiative to plan ahead is a proactive approach that can benefit your family in numerous ways. 1. Financial stability Financial stability is a...
How does a special needs trust protect benefit eligibility?
A loved one with special needs may require the help of government benefits such as Supplemental Security Income and Medicaid. However, your relative could lose out on these benefits without a special needs trust. When someone with special needs receives an inheritance...
Insurance to help families with special needs children
Parents who take care of children with disabilities must consider what will happen when they can no longer provide for their loved ones. While a special needs trust can help a disabled child into adult years, different insurance policies may also offer various kinds...
Should you agree to be a trustee of a special needs trust?
If you have a friend who has a relative with a disability or other special needs, your friend may have asked you to be a trustee of a special needs trust. Before you agree to do so, though, you should know exactly what the role involves. A special needs trust is a...