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Tag Archives: special needs planning

First-Party vs. Third-Party Special Needs Trust: What's the Difference?

Who Should Be the Trustee of a Third-Party Special Needs Trust?

By Andre O. McDonald |

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 Can Help Boost Your Financial Health

By Andre O. McDonald |

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

SECURE Act 2.0: Impact on Special Needs Trusts

By Andre O. McDonald |

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 »

Does disinheriting your special needs child protect their benefits?

Does Disinheriting Your Special Needs Child Protect Their Government Benefits?

By Andre O. McDonald |

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 »

Special Needs Trustee: What to Look For, and How to Choose a Good One

Choosing a Special Needs Trustee

By Andre O. McDonald |

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 »

Options for funding special needs trusts

Funding Options for Special Needs Trusts

By Andre O. McDonald |

It is crucial to properly fund special needs trusts (SNT’s), designating your trust as the owner of certain assets. The trustee can then distribute these assets to benefit your disabled loved one.  Before funding can happen, you must choose the type of trust that best suits the situation for your love one with special… Read More »

Understanding the importance of Special Needs Planning

Special Needs Planning: Enabling the Disabled

By Andre O. McDonald |

In honor of October as Special Needs Awareness Month, let’s take a look at special needs planning, which helps disabled people to live their best lives. Family money can be carefully managed to fit the disability-benefit rules and still provide additional perks for the disabled person to enjoy. And, though the rules can be… Read More »

March is Developmental Disabilities Awareness Month

March is Developmental Disability Awareness Month

By Andre O. McDonald |

In March of 1987, the Developmental Disabilities Awareness Month began, calling upon all Americans to provide the opportunities and encouragement necessary for people with developmental disabilities to reach their potential. Since then, the National Association of Councils on Developmental Disabilities (NACDD) holds a campaign each March to communicate the importance of inclusion and story… Read More »

Purpose of a supplemental needs trust (SNT)

Third-Party Supplemental Needs Trust

By Andre O. McDonald |

If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one. An inheritance received outright could negatively impact your loved one if he or… Read More »

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 »

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

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McDonald Law Firm, LLC

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10500 Little Patuxent Pkwy, #420
Columbia, MD 21044-3563

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(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

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Washington, DC 20037

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