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Tag Archives: special needs planning

Understanding the role of ABLE Accounts in special needs plans

Able Accounts Can Play a Key Role In Special Needs Plans

By Andre O. McDonald |

Special needs plans that utilize ABLE accounts can enhance quality of life for people with disabilities, offering financial protection while preserving access to public benefits for some individuals.  Living with a disability can present numerous financial challenges. Many people with disabilities bear the costs of health care, accessible vehicles, assistive technologies, and more. According… Read More »

Benefits of using a structured settlement to fund a special needs trust

Funding a Special Needs Trust With a Structured Settlement

By Andre O. McDonald |

If you win a personal injury lawsuit, you may receive your award in a lump sum or as a structured settlement. With a structured settlement, you will receive payments over time; you may opt for a substantial initial amount, with lesser succeeding payments to provide for lost income. These periodic payments don’t count for… Read More »

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 »

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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

Columbia Office

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

Bethesda Office:

(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

Washington, DC Office:

2101 L Street, N.W., Suite 300
Washington, DC 20037

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