Tag Archives: Special needs trusts
Taxes and Special Needs Trusts: What You Need to Know
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 and for …
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Using Your Illinois Municipal Retirement Fund (IMRF) Pension For Your Loved One With Special Needs
The Illinois Municipal Retirement Fund (IMRF) offers benefits for certain Illinois workers. Since retirement funds’ rules and benefits can vary, it’s important to understand how you can use retirement funds to provide for your child with special needs. In this …
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What a personal injury attorney needs to know about representing a child or adult with special needs
Personal injury attorneys should work very closely and carefully with their clients who have a child or adult child with special needs to ensure a plan is put into place that benefits the person for the rest of their lives. …
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Can I leave my SURS pension to my child with special needs?
No parents of a child with special needs want their son or daughter to be forced to rely solely on public assistance programs like Social Security disability, Supplemental Security and Medicaid to survive. So, they often look at their options …
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My child with special needs just received a settlement from a lawsuit. What do I do now?
Adults with special needs often receive SSI and Medicaid to help cover the costs of their living and medical expenses. Some of them have been disabled as a result of a personal injury or medical malpractice. Either way, a settlement …
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Special needs trusts and how to fund them
A special needs trust is likely the best way to plan for your child’s future. It can help pay for things not covered by government assistance, such as transportation, education, computer equipment and medical expenses that public benefits do not …
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