Distinguishing Two Kinds of Special Needs Trusts
AUGUST 23, 2010 VOLUME 17 NUMBER 27 It really is unfortunate that we didn’t see this problem coming. Those of us who pioneered special needs trust planning back in the 1980s should have realized that we were setting up everyone (including ourselves) for confusion. We should have just given the two main kinds of special […]
“Spendthrift” Trust Protects Against Beneficiary’s Creditors
MAY 17, 2010 VOLUME 17, NUMBER 16 What makes a trust a “spendthrift” trust, and what does it mean? A recent Florida Court of Appeal case gives a good snapshot of the significance and the effect of the categorization. Elizabeth Miller wanted to leave her property to her two sons, but wanted to protect against […]
Support Can Be Awarded After Child’s Majority In Some Cases
APRIL 12, 2010 VOLUME 17, NUMBER 12 Most people are familiar with modern concepts of child support. It can be awarded to the custodial parent in a divorce proceeding. The amount of support is usually calculated by reference to standardized computations promulgated by the courts. A support award usually includes an automatic assignment of wages […]
Deductions for Taxpayers and Families With Special Needs
APRIL 5, 2010 VOLUME 17, NUMBER 11 Tax time is upon us yet again — just like last year and the year before. Funny how it rolls around every twelve months. OK — “funny” might not be the best word. There is a certain irony in describing the tax deductions available to families raising or caring […]
Attorney’s Position on Ending Guardianship Case Approved
MARCH 8, 2010 VOLUME 17, NUMBER 8 {Ed. Note: this week’s Elder Law Issues was written for us by our friend, and nationally-known elder law authority, Prof. Rebecca C. Morgan. Prof. Morgan holds the Boston Asset Management Chair in Elder Law at the Stetson University College of Law, and she is the Director of Stetson’s Center for Excellence […]
Do You Need a New Tax ID Number for Your Living Trust?
AUGUST 17, 2009 VOLUME 16, NUMBER 51 Imagine that you are trying to change the title on your bank account into the name of the living trust you and your spouse just set up. The nice lady at the bank is telling you that you need to get a new tax identification number for the […]
Fleming & Curti Offers Seminar For “Special Needs” Trustees
MARCH 1, 2004 VOLUME 11, NUMBER 35 When a recipient of Supplemental Security Income (SSI) or Medicaid benefits receives money, the benefits may be reduced or even terminated. That is why most parents of children with a disability should consider establishing a “special needs” trust to handle any inheritance or gifts. Making the decision to […]
Selection Of Proper Trustee Is Key To Administration Of Trust
FEBRUARY 2, 2004 VOLUME 11, NUMBER 31 Although it is important to plan your estate, it is sometimes not enough just to prepare important documents and make reasonable decisions. It is also critical to select a reliable person to administer that estate. While family members may be the best choice, things may not always work […]
Arizona Restricts Use of “Self-Settled” Special Needs Trusts
JANUARY 12, 2004 VOLUME 11, NUMBER 28 Last week Elder Law Issues described how a “Special Needs” trust can be used to protect the beneficiary’s access to public benefits programs like Supplemental Security Income (SSI) and Medicaid (in Arizona, AHCCCS or ALTCS). There is one glaring problem with Special Needs trusts just now in Arizona, […]
Special Needs Trust Can Protect Benefits After Personal Injury
JANUARY 5, 2004 VOLUME 11, NUMBER 27 Joseph is eighteen years old and requires total care. He has been in his current condition, unable to speak or move and unresponsive to most stimuli, for five years. His family believes his condition is a result of improper treatment he received during a hospital stay, and lawyers […]