Last week I was telling you about a call I received about the benefits of an Achieving a Better Life Experience (ABLE) account vs. a special needs trust (SNT). Joan called about her sister Mary, who is receiving an inheritance from their uncle’s estate. Mary is in
Last week I outlined for you a common call I receive from attorneys who have successfully obtained money recoveries for clients who are currently receiving or may in the future need government benefits. Special needs trusts have become more widely known in recent years and recognized as “the solution”.
In 1993 Congress enacted a law commonly referred to as OBRA 1993. The law contained major changes to the Medicaid laws. Included in the law was a provision permitting the creation of a special needs trust for disabled individuals under the age of 65, into which could be placed
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
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
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
Just before the Christmas holiday break, Congress passed, and then President Obama signed into law, the Achieving a Better Life Experience Act (“the ABLE” Act). The ABLE Act allows people with disabilities to open special accounts, similar to 529 college savings plans. The interest
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
A battle is playing out in Trenton over Governor Christie’s attempt to balance the budget by delaying payments intended to make up for years of underfunding of the State’s government pension system. I have written in the past about how increasingly scrutinizing New Jersey has been with regard to Medicaid
When asked whether I am busy in my practice, I always make reference to the fact that the population is aging and that there are 77 million baby boomers beginning to enter senior status this year. As more people enter the long term care system things will only get busier.