Special Needs Trust Planning for Children With Disabilities
NOVEMBER 3, 2003 VOLUME 11, NUMBER 18 If your child has a disability you will have thought about what would happen on your death. Who will take care of your child? Who will pay for that care? Your estate plan can help address those concerns—and should probably include what most in the disability community call […]
Bequests To Disabled Children Should Be In Special Trusts
MARCH 20, 2000 VOLUME 7, NUMBER 38 Suppose your adult son is disabled and receiving both financial and medical assistance from the government. While you do not consider yourself wealthy, you have worked hard all your life and managed to build a modest estate. If you leave your disabled child his share of your estate […]
New Law Penalizes Gifts By SSI Applicants But Permits Trusts
DECEMBER 20, 1999 VOLUME 7, NUMBER 25 On December 14, 1999, President Clinton signed the Foster Care Independence Act of 1999. While most of the new federal legislation deals with foster care programs, it also changes the law and practice regarding so-called “Special Needs” trusts. The Supplemental Security Income (SSI) program, administered by but separate […]
Special Needs Trust Created Too Late; Funds Go To State
JANUARY 11, 1999 VOLUME 6, NUMBER 28 Virgil Lamont Hamilton, a California child, was injured in a tragic swimming pool accident in 1982. Hamilton suffered severe brain damage, and will require total care and extensive medical treatment for the rest of his life. Since the accident, Hamilton has lived in a California state institution, Agnews […]