Feb 7, 2023 | Special Needs Trusts
The Special Needs Trust (SNT) Improvement Act of 2022 is now in effect after being signed into law as part of the much larger Consolidated Appropriations Act of 2023. It amends The Secure Act of 2019. The Special Needs Alliance, a national advocacy group of which...
Oct 11, 2022 | Blog, Special Needs Trusts
Adding a child with special needs to your family can bring change and uncertainty to your life. You may contemplate what the future holds for your child and how to best plan for your child’s future. While you can never anticipate every need or contingency that...
Aug 24, 2022 | Blog, Special Needs Trusts
Parents most commonly establish special needs trusts for their children to provide financial support for them while not jeopardizing their eligibility for necessary public benefits. A special needs trust attorney can assist the parents in setting up the trust or other...
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...
Feb 28, 2022 | Blog, Government Funding, Government Programs, Resources, Social Security, Special Needs Trusts
A person’s resources affect the ability to qualify for crucial government benefits. The Social Security Administration (SSA) sets forth resource limits for SSI applicants and recipients. For example, to qualify for Supplemental Security Income (SSI),...
