Irrevocable Life Insurance Trusts: How They Work
Irrevocable life insurance trusts (“ILIT”) can be one part of future planning for individuals with special needs. Like other future planning methods, people planning to use an ILIT as part of their plan should learn about important provisions to include specific to...Can an SNT Be the Beneficiary of My Retirement Account?
When determining whether you can name a special needs trust (SNT) as the beneficiary of your retirement account and accomplish your intended result, you will quickly learn that the answer is “it depends.” It depends on the type of beneficiary designation and on tax...
How a Veteran Can Leave His Military Pension to a Special Needs Trust
Under recent changes to military pension plan rules, you can leave your pension to a special needs trust for the benefit of a child with special needs. Military members may choose the Survivor Benefit Plan (SBP) option, as part of their retirement pay options. SBPs...