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Tag Archives: special needs planning

Don't make these 3 costly mistakes when planning for your disabled family member

3 Common Mistakes When Planning for a Disabled Family Member

By Andre O. McDonald |

There are 58 million Americans five years of age or older that are identified as special needs, making them the largest single minority in this country. The majority of federal and state benefits available to help persons with disabilities are needs-based, meaning income and assets are strictly limited and can often by misinterpreted, resulting in costly… Read More »

How an ABLE Account helps families afford disability-related care

How an ABLE Account Helps Those with Special Needs

By Andre O. McDonald |

The Achieving a Better Life Experience (ABLE) Act was signed into law in December of 2014. The purpose of the ABLE Act was to provide individuals and families the ability to finance disability needs tax-free. The savings vehicle provided by the ABLE Act is similar to the 529 education savings plan. The Act allows… Read More »

5 Common Care Arrangements for Adults with Special Needs

5 Care Options for Adults with Special Needs

By Andre O. McDonald |

There are numerous care options available for adults with special needs. The options available vary based on the level of care required, ranging from those adults with special needs who are able to be more independent, to those who need advanced medical care. When planning for- or selecting- care options for special needs adults,… Read More »

Preparation Advice for Caring for a sibling with special needs

3 Tips for Caring for a Sibling with Special Needs

By Andre O. McDonald |

When a family has a child with special needs, the care of that child eventually falls on the shoulders of the entire family. The parents generally care for the child for as long as they are able. However, when the parents begin to age, the siblings are often called upon to take over care… Read More »

The importance of a special needs trust

10 Tips for Using a Special Needs Trust to Protect Your Child

By Andre O. McDonald |

When caring for a child or loved one with special needs, it’s important to understand what resources are available to you, and what steps can be taken to provide quality care and financial security is vital to your dependent’s lifetime needs. Careful planning and a properly executed special needs trust can protect your loved… Read More »

What You Need to Know About the ABLE Act and special needs planning

Five Things You Need to Know About the Recently Enacted ABLE Act

By Andre O. McDonald |

On December 19, 2014, President Obama signed the Achieving a Better Life Experience Act (ABLE Act) into law. The ABLE Act will allow special needs individuals or certain individuals with disabilities to establish tax-free savings accounts that can be used to cover expenses not otherwise covered by government sponsored programs. These accounts can be… Read More »

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For help with estate planning, special needs planning, elder law or Veteran's Pension Planning needs throughout Howard, Montgomery, Prince George’s, Anne Arundel, and Baltimore County; and Baltimore City, contact McDonald Law Firm, LLC.

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