Tag Archives: SNT

Why Your Special Needs Trust Should Be a Separate Free-Standing Document

Why Your Special Needs Trust Should Be a Separate Free-Standing Document

When you decide to create a special needs trust for your child with special needs, you should ensure that the trust is prepared as a separate free-standing document. Some people think that creating SNTs in their wills or as part …
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Which Expenses Cannot Be Paid from a 3rd Party Special Needs Trust?

Which Expenses Cannot Be Paid from a 3rd Party Special Needs Trust?

Special needs trusts can pay some expenses for their beneficiaries without penalties. If you are a family member of a person with special needs or the trustee of an SNT, you should learn about which expenses the trust money can …
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Will a Divorce Impact Our Special Needs Trust?

Will a Divorce Impact Our Special Needs Trust?

When you and your spouse start talking about divorce, you should consider the effects of splitting up on your child with special needs. Divorce will require changes to your future planning, including – potentially – available benefits and your child’s …
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Do You Need to Change Your Future Planning Due to the New 2018 Tax Laws?

Do You Need to Change Your Future Planning Due to the New 2018 Tax Laws?

In January 2018, several new tax laws went into effect that could change your future planning. You should check in with the lawyer who prepared your estate plan and any documents for your child with special needs to see if …
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Top 5 Reasons to Start Future Planning Today

Top 5 Reasons to Start Future Planning Today

If you are hesitant about starting your future planning now, here are five reasons not to delay. Even if you have just learned that your child has special needs, it is never too early to make a plan. There’s No …
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Future Planning for an Independent Adult with Special Needs

Future Planning for an Independent Adult with Special Needs

If your family includes an independent adult with special needs, you should do some future planning to ensure your child or other relative has everything he or she needs to continue living independently. Here are a few suggestions and options …
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The Gift Tax and Special Needs Trusts

The Gift Tax and Special Needs Trusts

When you give money to a special needs trust, you may worry that you or the trust will owe the IRS money for the gift when Tax Day rolls around. Both assessing the gift tax and taxation of an SNT …
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Is Long-Term Care Insurance Worth It?

Is Long-Term Care Insurance Worth It?

You may have heard about buying long-term care insurance.  This insurance helps cover the costs of a care facility outside the home or even nursing care inside of your home. There are a few pros and cons of long-term care …
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How Do SNTs Affect Beneficiaries with Special Needs’ Eligibility for Subsidized Housing?

How Do SNTs Affect Beneficiaries with Special Needs’ Eligibility for Subsidized Housing?

The federal and state governments subsidize some housing under programs such as “Section 8” for people with special needs. Some people who want to apply for Section 8 have special needs trusts (SNTs) that benefit them. If you are considering …
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Income Taxation of Special Needs Trusts, Part 2

Income Taxation of Special Needs Trusts, Part 2

In your future planning for your child with special needs, remember to consider income taxation of special needs trusts, including Qualified Disability Trusts (QDTs). If you set up a special needs trust (“SNT”) with another law firm, the attorneys may …
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Trusts: The Basics

Trusts: The Basics

People just beginning their future planning may hear many terms thrown around by their relatives and attorneys: trust, beneficiary, settlor, and more. For those unfamiliar with trusts, the many different words used to describe them can be quite confusing. This …
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Picking the Right Professionals for Your Trust

Picking the Right Professionals for Your Trust

Trustees of special needs trusts often need to pick professionals to assist with trust management and oversight. With so many licensed professionals to choose from, how does a careful trustee find the “right” professionals? Consider a few basic guidelines. How …
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How Much Money Do You Need to Fund a Special Needs Trust?

How Much Money Do You Need to Fund a Special Needs Trust?

If you are thinking about forming a special needs trust, you may be wondering how much money you need to fund it. In truth, there is no way to know how much your child will need for the rest of …
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Special Needs Future Planning When Future Health Care Funding Is Uncertain

Special Needs Future Planning When Future Health Care Funding Is Uncertain

Parents of children with special needs, advocates, and care providers have followed recent news about health care funding with worry , because health care funding proposals would cut Medicaid funding by 25 percent or more. While lawmakers in Washington have not passed …
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Estate Planning for Your Extended Family

Estate Planning for Your Extended Family

When estate planning for your family’s future, don’t forget that extended family members may need to change their plans too if they want to help your child with special needs. This article described some common situations that arise when well-meaning relatives …
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