April 22, 2020
Considering the challenge that the COVID-19 crisis has created, especially for seniors, now more than good nutrition is more important than ever before. Getting to the grocery store is more difficult, even with set aside hours for the elderly. And with over-loaded, on-line, food-delivery services, meal-planning for seniors just got a whole lot more complex.
April 15, 2020
The Achieving a Better Life (ABLE) Act of 2014 allows States to establish programs, for eligible individuals with disabilities, and enable them to participate in a tax advantaged savings program. This benefit does not impact the “government means test benefits,” as long as the account within the account is under the allowed maximum.
April 1, 2020
In this blog post we examine who qualifies for an ABLE account, as they can be wonderful tools for the trustee. If the beneficiary of a Special Needs Trust becomes disabled prior to the age of 26, the trustee can fund an ABLE account, regardless of the kind of special needs trust.
March 4, 2020
The recent US stock market swings have been front and center in the news recently, as we witnessed The Dow Jones Industrial Average plunge more than 12% in a week.
Special Needs Trust investments are subjected to these market swings, but ideally they are invested in a relatively conservative portfolio. When it comes to investing, special needs trusts are all about the “spend down” and how long the funds will last during the beneficiary’s life time.
March 3, 2020
Using ABLE accounts in conjunction with Special Needs Trusts are an excellent way to effectively increase income to SSI beneficiaries. As long as there is careful monitoring of the account, this is a wonderful tool for special needs trustees and should be part of the overall annual cost analysis.