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Posts Tagged ‘special needs trust’

Housing for Special Needs Adults

Special Needs Adults

Housing options for special needs adults have come a long way in recent years. If you are the legal guardian of a special needs adult and you’re just now looking at your options, you are fortunate to have avoided some not so wonderful options from years past. There was a time when many special needs…

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What Can Special Needs Trust Funds be Used For

trust funds

For families with children who have special needs, ensuring their care and provision is always on the forefront of the mind. Special needs trusts are a great tool for making sure they are cared for, but what does that entail? It is important to note that special needs trusts are made to supplement Medicaid and…

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Protecting Your Assets from Medicaid

Medicaid

If you’ve taken steps to get the best possible long-term medical care for a loved one with special needs, you also need to think about protecting your assets from Medicaid. This is because the Medicaid standard to establish need essentially requires the recipient to be flat broke. If you leave an inheritance for that loved…

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How to Plan for the Future with a Special Needs Child

Special Needs Child

Every parent worries about their child’s future, but the parent of a special needs child worries more. Who will take care of him/her every day? Who will advocate for him/her? Who will support him/her? Can I even do anything to address these issues? Yes, you can. You can do a lot to make sure your…

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How to Set Up a Special Needs Trust in Four Steps

Special Needs Trust

Are you the primary caregiver for someone with a disability? Are you the legal guardian of someone who needs ongoing long-term medical care? Are you concerned about accessibility to important things like housing, insurance, and independence? Of course you are! Setting up a Special Needs Trust is a vital part of estate planning when you…

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Special Needs Trust Tax Returns

Special Needs Trust Tax Returns

Generically, it is required that a trustee file income taxes on any trust that they have; although is done separately from personal income tax. Special needs trusts are no different. As a trustee, it is important to know your duties when tax time comes, as well as how to file taxes properly. Taxes for First-Party…

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Self-Settled Special Needs Trust

Self-Settled Special Needs Trust

Self-Settled Special Needs Trust are useful when a disabled individual has enough assets that would put them over the threshold for Medicaid. Medicaid requires that the assets must be spent down to become eligible for Medicaid; there are a variety of ways of doing this legally, from paying down debt, funeral expenses, or asset purchases,…

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What To Do When Your Disabled Child Turns Eighteen

Special Needs Adult Children

Graduation. It is a rite of passage for nearly every child. For special needs children, it is still that rite of passage bringing a sense of accomplishment and pride to the child and to the family. It is also a time for new challenges for parents as preparation for their child’s life as an adult…

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Manage the Cost through Special Needs Trust

special needs trust

A special needs child born to parents in Arizona often will require many services that can cost millions to deliver over the child’s lifetime. Managing this extreme bill requires careful planning and structuring. It can be daunting but it is not insurmountable. What Parents of Special Needs Children Need to Know A tool that is…

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What Exactly Does a Special Needs Trust Do?

special needs trust

Having a child with a disability is a special source of concern for many, especially when faced with the dilemma of passing away and leaving no one to care for that child. Many people want to plan for their child’s financial future. However, this must be done carefully so as not to put into jeopardy…

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