Recent Blog Posts
Legal Options for People with Special Needs (and the Families Who Support Them)
The Americans with Disabilities Act (ADA) provides support and empowerment to people with special needs and disabilities. More options for individuals and families who support them to live as independently as possible are available. Multiple options are available to create and amend legal frameworks to best serve persons with special needs. Requirements continue to… Read More »
A Comparison of Special Needs Trusts and ABLE Accounts
A special needs trust (SNT) and an Achieving a Better Life Experience account (ABLE) provide a tax-free way to save money for people with disabilities. Both options provide a mechanism for saving money and protecting resources that ensures the person with a disability (PWD) continues their eligibility for public benefits programs. Accumulating resources for… Read More »
Choosing a Special Needs Trustee
When creating a special needs trust (SNT) for a loved one with a disability, the grantor (the individual creating and funding the trust) typically becomes the trustee. However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the special needs individual. When selecting a reliable, honest,… Read More »
Legal Perils of Gift and Joint Ownership between Unmarried Couples
Cohabitation without marriage is becoming more common in the United States. Among eighteen- to forty-four-year-olds, the percentage of adults who have lived with an unmarried partner at some point is now higher than the percentage of adults who have been married. When you live with a romantic partner, it may feel as though you… Read More »
Estate Planning and Divorce: Key Considerations
Getting a divorce is seldom an easy process. It is emotional and stressful. There are many factors to consider that may also change over time. For younger couples, children are likely a top concern. For older couples, a long-term home, inherited assets, retirement plans, trusts, and estate plans may be significant concerns. If you… Read More »
Medicaid-Compliant Annuity (MCA) for Married Couples
An annuity is a financial product that pays a fixed amount of money every year, generally for the rest of the annuity owner’s life. Most annuities are deferred, meaning the payout doesn’t occur until a later date. However, you can receive immediate payouts if you purchase a Medicaid-Compliant Annuity (MCA). When you buy a… Read More »
Three Celebrity Probate Disasters and Tragic Lessons
One would assume that celebrities with extreme wealth would take steps to protect their estates. But think again: some of the world’s richest and most famous people enter the pearly gates with no estate plan, while others have made estate planning mistakes that tied up their fortunes and heirs in court for years. Let… Read More »
The Pros and Cons of Probate
In estate planning circles, the word “probate” often carries a negative connotation. Indeed, for many people—especially those with valuable accounts and property—financial planners recommend trying to keep accounts and property out of probate whenever possible. That being said, the probate system was ultimately established to protect the deceased’s accounts and property as well as… Read More »
3 Reasons to Avoid Probate
When you pass away, your family may need to sign certain documents as part of a probate process in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in your name only and you have not completed a beneficiary, pay-on-death,… Read More »
Funding Options for Special Needs Trusts
It is crucial to properly fund special needs trusts (SNT’s), designating your trust as the owner of certain assets. The trustee can then distribute these assets to benefit your disabled loved one. Before funding can happen, you must choose the type of trust that best suits the situation for your love one with special… Read More »
