Blog Archives

A Special Needs Plan Gone Wrong (Part 2)

     Last week I was telling you about Bob’s call. Dad’s will left everything to Bob and his brother Sam. According to Bob, they had conversations with his dad about setting up a special needs trust for their disabled sister, Sally and transferring her 1/3 share to that trust.      When Sam reneged on that […]

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A Special Needs Plan Gone Wrong

     Bob called with the following story. Dad had passed away a year earlier. He had three children, Bob, Sam and Sally. Bob told me that Dad’s will left everything to Bob and Sam because Sally, who is severely disabled and receiving government benefits, would otherwise lose those benefits if she received an inheritance.      […]

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The ABLE Act – The Drawbacks

            Last week I told you about the ABLE Act that was passed by Congress and signed by President Obama just before the Christmas holiday.  It sounds great, allowing disabled individuals to set up savings accounts, similar to a 529 plan, without losing government benefits.  But is it all its “cracked up to be”?  Maybe […]

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New Jersey Supreme Court Recognizes the Value of Special Needs Planning

                Sometimes as elder and disability attorneys we are criticized for helping our clients qualify for, or in some cases maintain, government needs based benefits.  “Why should people be able to protect any of their assets and still qualify for government benefits”, they ask.  “That’s not who the benefits are intended for.”                 The New […]

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Can I Make Gifts this Holiday Season? (Part 2)

Last week we were talking about gift giving.  Most people assume an elderly family member can make gifts without any tax consequences as long as it doesn’t exceed $13,000 per person per year.  That’s true.  However, it may very well cause a problem if you run out of money and are expecting to then qualify […]

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New Regulations For Special Needs Trusts

I have written about special needs trusts in past posts on this blog.  SNTs are a safe harbor for the assets of disabled individuals that allows them to receive government benefits and be able to use the trust assets to supplement those benefits, because we quickly find that what the government provides leaves much to […]

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