UTMA Accounts: A Problem for Individuals With Disabilities Uniform Transfers to Minors Act (UTMA) accounts are popular, inexpensive tools for gifting assets to children. Grandparents, parents, and other relatives often use them to set aside
Takeaways What is a Special Needs Trust? A special needs trust (SNT) is a specific legal tool created to manage assets for people with disabilities. Its main goal is to protect the individual’s eligibility for
Takeaways When managed correctly, a special needs trust (SNT) can help a person with a disability cover certain expenses while keeping their Medicaid and Supplemental Security Income (SSI) benefits. Managing an SNT takes knowledge and
Our long term readers know that every January, our team loves to remind our clients and friends to review their Special Needs and Estate plans for updates. As our children grow and develop (and conquer
Takeaways Starting January 1, 2026, more individuals with disabilities will be eligible to open tax-advantaged ABLE accounts, thanks to an update to federal law. The ABLE Age Adjustment Act will extend the maximum age at
Takeaways In 2014, the Achieving a Better Life Experience (ABLE) Act established tax-advantaged savings accounts for people with disabilities to cover qualified disability-related expenses. With an ABLE account, eligible people with disabilities can put aside
Takeaways The Challenge of Needs-Based Benefits More than one in three people with disabilities rely on Medicaid, according to the Kaiser Family Foundation. Jointly funded by states and the federal government, Medicaid is a public assistance program that
Takeaways The Achieving a Better Life Experience (ABLE) Act, enacted in 2014, revolutionized financial planning for people with disabilities by allowing them to save money in tax-advantaged accounts without jeopardizing their eligibility for critical public benefits
Takeaways The modern family is no longer defined by the nuclear model. Today, blended families — where one or both partners bring children from previous relationships — are increasingly common. So-called “nontraditional” families, including blended
Takeaways Preparing a comprehensive estate plan to protect a child with special needs can be an emotional roller coaster. On the one hand, parents should be relieved that they are taking steps to guarantee that
