Blog
October 7, 2020
What to Look for in a Professional Fiduciary (Trustee)—Especially during a COVID-19 Pandemic and Aftermath
Has your estate planning or elder care attorney ever mentioned, “You’d be wise to get your affairs in order?” For elderly individuals without immediate family members, it can be extremely difficult to decide who to appoint as their power of attorney or health care surrogate. Learn about the important role of a fiduciary— and how choosing the right one can provide support for you and/or your loved one during a difficult season in life.
September 24, 2020
Five Tips to Protect Against Elder Abuse during the Covid-19 Pandemic
As we continue to experience living in a Coronavirus/COVID-19 climate, we’ve learned elders are particularly susceptible to the effects of this illness and the many negative ways it has impacted their daily lives. As a result, many precautions have been taken to protect this demographic, especially with respect to exposure to the virus.
April 22, 2020
Six Key Nutrients That Seniors Must Have for Better Health—Now More Than Ever!
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
ABLE Accounts – Tax Advantages for Those Living with Disabilities
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
Special Needs Trustees – Should They Always Encourage Beneficiaries to open ABLE Accounts
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
Market Fluctuations and Special Needs Trusts
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
ABLE Accounts Pay Shelter and Food through Special Needs Trusts
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.
January 28, 2020
Achieving a Better Life Experience Using ABLE Accounts
For someone living with disabilities, having a savings account can offer increased independence and autonomy, and enable a person live his or her dreams. Fortunately, the ABLE Act allows those with disabilities to live more freely with enhanced savings resources, without impacting Federal or California State Benefits. Anyone can contribute to these accounts, making them an excellent vehicle for those in their circle of support who wish to contribute, without triggering loss of public benefits. While programs such as Social Security Supplemental Income (SSI) and Medi-Cal place limits on resources, ABLE accounts are held to a much higher ceiling which is currently $100,000.
December 31, 2019
Hitchman Fiduciaries Attends Orange County Museum of the Arts Fundraiser
Recently, Bruce and Lee Ann Hitchman attended the New Now Next OCMA Affair 2019 to help raise funds to benefit the Orange County Museum of Arts (OCMA).
November 29, 2019
Fur Real: True Stories About the Benefits of Emotional Support Animals (ESAs) at Hitchman Fiduciaries
Recently we shared some important information about flying with Emotional Support Animals and thought it would be a great time to share some real life examples from our own Hitchman Team about how valuable Emotional Support Animals (ESAs) are in our lives and the lives of the clients we serve.