Tag Archives: tax

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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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 …
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Income Taxation of Special Needs Trusts, Part 1

Income Taxation of Special Needs Trusts, Part 1

In your future planning for your child with special needs, remember to consider income taxation of special needs trusts. If you set up a special needs trust (“SNT”) with another law firm, the attorneys may not have discussed how you …
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Pros and Cons of Using an Institutional Trustee

Pros and Cons of Using an Institutional Trustee

When forming a special needs trust for your child with special needs, you may wonder whether using an institutional trustee is a good idea. “Institutional trustee”, also called a corporate trustee, refers to a bank or trust company that oversees …
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