May 13, 2022 | Blog, Special Needs Trusts
Special needs trusts are an excellent way to provide additional financial support for a child with special needs without endangering eligibility for means-tested government benefits. However, these trusts do have potential tax implications, both for the trust itself...
Mar 31, 2022 | Blog, Special Needs Trusts
Historically, the state of Illinois, like many states, implemented a “payback” or “clawback” provision that allowed it to seek reimbursement from ABLE accounts after a beneficiary’s death. The state could seize any remaining funds in ABLE...
Mar 15, 2022 | Blog, Social Security
Under Illinois law, children may have a right to receive child support from one or both parents after they reach adulthood if they are disabled. However, they also may be eligible to receive Medicaid and Supplemental Security Income (SSI), which have strict income and...
