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Trustee Fiduciary Duties, Part 1

Trustee Fiduciary Duties, Part 1

Trustees have fiduciary duties in administering trusts. These duties arise from state law, including statutes and court cases. Fiduciary duties help ensure that a trustee best manages assets for the benefit of the trust’s beneficiaries. The duty of care requires...
The Legal Procedure for Seeking Guardianship

The Legal Procedure for Seeking Guardianship

The legal procedure for seeking guardianship of an adult with special needs in Illinois involves petitioning the court for an order appointing a guardian. Petitioners must follow court procedure exactly to receive the order. Either an “interested person” such as a...
What Is the Difference Between Medicaid and Medicare?

What Is the Difference Between Medicaid and Medicare?

Despite their similar-sounding names, Medicaid and Medicare are very different programs. To understand how these programs could factor into your future planning for someone with special needs, learn about Medicaid and Medicare functions and eligibility requirements....
What Is the Difference Between SSDI and SSI?

What Is the Difference Between SSDI and SSI?

Special needs future planning should include guidance in applying for and determining how to remain eligible for government benefits such as SSDI and SSI. If this is your first time learning about the various benefits that are available, you may be wondering what the...
Tax Benefits of a Qualified Disability Trust

Tax Benefits of a Qualified Disability Trust

The IRS classifies some special needs trusts as Qualified Disability Trusts, and these trusts have certain tax benefits. QDTs may claim a personal exemption on their federal income tax returns. Please note, as part of the Tax Cuts and Jobs Act of 2017 the personal...

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