Category Archives: Special Needs Planning
![The estate planning takeaways of the Leno Conservatorship case The estate planning takeaways of the Leno Conservatorship case](https://www.mcdonaldesq.com/wp-content/uploads/2024/06/AdobeStock_728324080-150x150.jpeg)
What You Can Learn from the Leno Conservatorship Proceedings
When most people think about creating an estate plan, they usually focus on what will happen when they die. They typically do not consider what their wishes would be if they were alive but unable to manage their own affairs (in other words, if they are incapacitated). In many cases, failing to plan for… Read More »
![First-Party vs. Third-Party Special Needs Trust: What's the Difference? First-Party vs. Third-Party Special Needs Trust: What's the Difference?](https://www.mcdonaldesq.com/wp-content/uploads/2024/03/AdobeStock_435232887-150x150.jpeg)
Who Should Be the Trustee of a Third-Party Special Needs Trust?
Family members with special needs may require assistance throughout their lives. If you want to ensure that a loved one with a disability is taken care of after you are gone, you can help manage resources for them by using a third-party special needs trust (SNT). Also known as a supplemental needs trust, a… Read More »
![How an ABLE Account helps families afford disability-related care How an ABLE Account helps families afford disability-related care](https://www.mcdonaldesq.com/wp-content/uploads/2018/08/AdobeStock_60117694-150x150.jpeg)
How An ABLE Account Can Help Boost Your Financial Health
For many people with disabilities, maintaining financial well-being can prove particularly challenging amid the marginalization, societal stereotypes, and employment and health care barriers they may regularly face. This includes anything from inaccessible workplaces to reduced income to limited options for building up their savings. Financial Health of People with Disabilities According to a new report,… Read More »
![What you need to know about SECURE Act 2.0 and its impact on special needs trusts What you need to know about SECURE Act 2.0 and its impact on special needs trusts](https://www.mcdonaldesq.com/wp-content/uploads/2023/04/AdobeStock_550195563-150x150.jpeg)
SECURE Act 2.0: Impact on Special Needs Trusts
A special needs trust (SNT), or a supplemental needs trust, is a legal entity that helps individuals of any age with disabilities maintain their eligibility for government benefits and receive additional financial support. Under the SSA expenditure rules, an SNT can provide additional monies to enhance the beneficiary’s lifestyle while maintaining Medicaid or Supplemental… Read More »
![Understanding guardianship or conservatorship for adults with disabilities Understanding guardianship or conservatorship for adults with disabilities](https://www.mcdonaldesq.com/wp-content/uploads/2023/03/AdobeStock_386547885-150x150.jpeg)
Guardianship or Conservatorship for Adults with Disabilities
For individuals with developmental disabilities who can’t make important decisions or care for themselves in adulthood, guardianship or conservatorship are both legal arrangements that should be given consideration. Establishing a legal guardian is the job of the court, which appoints a person (guardian) to make personal and financial decisions for individuals lacking the capacity… Read More »
![Does disinheriting your special needs child protect their benefits? Does disinheriting your special needs child protect their benefits?](https://www.mcdonaldesq.com/wp-content/uploads/2023/03/AdobeStock_386708026-150x150.jpeg)
Does Disinheriting Your Special Needs Child Protect Their Government Benefits?
Families with special needs children face unique challenges and opportunities to protect their children’s futures. Providing appropriate medical, educational, recreational, and employment opportunities for your special needs child can result in a lifetime of pursuing public and private programs and services. Too often, the parents or persons responsible for financial and medical management of… Read More »
![Understanding the tax implications of special needs trusts Understanding the tax implications of special needs trusts](https://www.mcdonaldesq.com/wp-content/uploads/2022/12/TaxImplicationsofSpecialNeedsTrusts_12.19.22-150x150.jpg)
Taxes and Special Needs Trusts
Families who care for a loved one with special needs or a disability will often create and fund a special needs trust. It can provide peace of mind to improve a family member’s future quality of life without jeopardizing their eligibility for government benefits. However, families must also consider the tax implications of special… Read More »
![What you need to know about legal options for people with special needs and their families What you need to know about legal options for people with special needs and their families](https://www.mcdonaldesq.com/wp-content/uploads/2022/12/AdobeStock_164912795-150x150.jpeg)
Legal Options for People with Special Needs (and the Families Who Support Them)
The Americans with Disabilities Act (ADA) provides support and empowerment to people with special needs and disabilities. More options for individuals and families who support them to live as independently as possible are available. Multiple options are available to create and amend legal frameworks to best serve persons with special needs. Requirements continue to… Read More »
![Young indian man wearing purple sweatshirt standing over isolated pink background smiling showing both hands open palms, presenting and advertising comparison and balance Young indian man wearing purple sweatshirt standing over isolated pink background smiling showing both hands open palms, presenting and advertising comparison and balance](https://www.mcdonaldesq.com/wp-content/uploads/2022/12/AdobeStock_288704434-150x150.jpeg)
A Comparison of Special Needs Trusts and ABLE Accounts
A special needs trust (SNT) and an Achieving a Better Life Experience account (ABLE) provide a tax-free way to save money for people with disabilities. Both options provide a mechanism for saving money and protecting resources that ensures the person with a disability (PWD) continues their eligibility for public benefits programs. Accumulating resources for… Read More »
![Special Needs Trustee: What to Look For, and How to Choose a Good One Special Needs Trustee: What to Look For, and How to Choose a Good One](https://www.mcdonaldesq.com/wp-content/uploads/2022/11/AdobeStock_181145873-150x150.jpeg)
Choosing a Special Needs Trustee
When creating a special needs trust (SNT) for a loved one with a disability, the grantor (the individual creating and funding the trust) typically becomes the trustee. However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the special needs individual. When selecting a reliable, honest,… Read More »