Spending ABLE Account Money?
ABLE accounts are a way for people with disabilities to save and spend money, while protecting their access to public benefits.
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Home • Special Needs Trusts
ABLE accounts are a way for people with disabilities to save and spend money, while protecting their access to public benefits.
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
When you hear the word trust fund, you might think of wealthy kids a big chunk of cash on their 25th birthday. However, trust funds aren’t just for the rich. They are flexible tools to protect your loved ones.
It is critical that parents and grandparents give careful thought to any gift of money or bequest in an estate plan, when the recipient has special needs.
Both the state and federal government, administered through the Social Security Administration (SSA) and Medicaid, provide disabled individuals with a variety of life enhancing, and sometimes life sustaining, public benefits.
The most common question faced by special needs parents and caregivers is, ‘What will happen if I am not here?’
As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming.
Anyone with a child with special needs understands the need to prepare for the future. A trust is always a good place to start, and figuring out a savings goal for that trust is a key part to your planning.
When you meet with an elder law estate planning lawyer, honesty is the best policy, even though it may be difficult to disclose the personal information requested.