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Estate Planning › Special Needs Adults

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Chambliss, Bahner & Stophel, P.C.

Supplemental vs. Special Needs Trusts: Any Difference?

Chambliss, Bahner & Stophel, P.C. on

Have you heard the terms “special” needs trust and “supplemental” needs trust and wondered what the difference is? The simple answer is that there’s no difference. Whether supplemental or special, these trusts serve the...more

Chambliss, Bahner & Stophel, P.C.

Navigating Sleepless Nights: A Mother’s Guide to Special Needs Planning

Chambliss, Bahner & Stophel, P.C. on

I was driving to work on August 24, listening to Lady Gaga on my Pandora radio station, when suddenly, I had a strong urge to call my younger daughter, Hannah. We talk regularly, so it isn’t unusual that I call her on my way...more

Woodruff Sawyer

Is a Special Needs Trust Right for You?

Woodruff Sawyer on

If you have a child or another loved one with special needs, it’s only natural to worry about their future. How can you make sure their financial needs are taken care of without jeopardizing their public assistance payments?...more

Adler Pollock & Sheehan P.C.

Can an ABLE Account Benefit Your Family?

Adler Pollock & Sheehan P.C. on

A family with a disabled child faces difficult planning challenges. For many years, the most effective estate and financial planning tool for parents of a disabled child was a special needs trust (SNT). This trust type...more

Ward and Smith, P.A.

Guardianship May or May Not Be an Answer

Ward and Smith, P.A. on

The COVID-19 situation has had many unwanted side effects. Among them are increased occurrence of depression, substance abuse, and mental illness. Additionally, our older population has been particularly impacted by the...more

McDermott Will & Emery

Guardianship Estate Planning for Adults with Disabilities

McDermott Will & Emery on

Guardianship estate planning statutes allow the court-appointed guardians of the estates of disabled adults to establish estate plans for their wards on petition to the court. Thirty-two states now have statutory provisions...more

Chambliss, Bahner & Stophel, P.C.

Special Needs Planning Newsletter: Special Needs Planning and Capacity

Chambliss, Bahner & Stophel, P.C. on

Not a week goes by that I am not asked to make a judgment call about a client's capacity to sign a will, power of attorney, or other legal document. In fact, every time I sit down with a client to sign any legal document, I...more

Chambliss, Bahner & Stophel, P.C.

Five Questions to Ask Yourself When Choosing a Trustee for Your Special Needs Trust

Chambliss, Bahner & Stophel, P.C. on

If you are in the process of setting up a special needs trust, you must appoint a trustee. This is one of the most important decisions you’ll make about the trust. The trustee must have the necessary expertise to manage the...more

Chambliss, Bahner & Stophel, P.C.

Moving? Make Sure Your Special Needs Planning Moves With You

Chambliss, Bahner & Stophel, P.C. on

If you have already established an appropriate special needs trust for your child, then congratulations! You've taken a wonderful step towards ensuring that your child can take maximum advantage of the government programs...more

Chambliss, Bahner & Stophel, P.C.

Tips on Creating an Estate Plan that Benefits a Child with Special Needs

Chambliss, Bahner & Stophel, P.C. on

Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is...more

Cranfill Sumner LLP

May is National Elder Law Month

Cranfill Sumner LLP on

Where the month of May celebrates mothers and the Kentucky Derby, the month of May has also been designated as National Elder Law month. This designation was coined by the National Academy of Elder Law Attorneys (NAELA), a...more

Flaster Greenberg PC

Choupette’s Legacy – Why Estate Planning Matters

Flaster Greenberg PC on

It is speculated that Choupette Lagerfeld, the pampered Parisian pet of the iconic late German fashion designer, Karl Lagerfeld, may have a stake in Lagerfeld’s vast fortune....more

Flaster Greenberg PC

Special Needs Trusts Update

Flaster Greenberg PC on

Means-tested public benefit programs such as Medicaid (which provides health insurance and payment for skilled care andother medical expenses), Supplemental Security Income (SSI), the Supplemental Nutritional Assistance...more

Chambliss, Bahner & Stophel, P.C.

Should a Special Needs Trust Buy a Home for a Beneficiary?

Chambliss, Bahner & Stophel, P.C. on

For some people with disabilities, homeownership may present a uniquely empowering opportunity. But for many others, purchasing a home through a special needs trust may be in the beneficiary’s best interests. Homeownership...more

Chambliss, Bahner & Stophel, P.C.

Chocolate Cake, Purple Hair Dye, & Lorrie Morgan: Special Needs Planning Done Right

Chambliss, Bahner & Stophel, P.C. on

What do chocolate cake, purple hair dye, Lorrie Morgan, and Alexa have in common? On first or even second glance, most of you would find nothing that these random things have in common, unless you know a gentleman named Doug....more

Chambliss, Bahner & Stophel, P.C.

Who Can Set Up the ABLE Account?

Chambliss, Bahner & Stophel, P.C. on

ABLE accounts, new tax-free saving accounts for people with disabilities, hold great promise for special needs planning. But among the many questions surrounding ABLE plans is who can open accounts? Only the person with a...more

Gray Reed

Family Matters: Does Everyone Really Need a Will?

Gray Reed on

Just before her 80th birthday, Ernest (“Big Daddy”) Bux’s octogenarian Auntie Delusional (Auntie Del) died without a will or any other estate plan in place to give guidance to her husband (Uncle Tom) and their two adult...more

Dentons

Estate planning for families with special needs

Dentons on

When children with disabilities turn 18, your ability as a parent to make decisions for their care and future become limited. Specific long-term planning decisions can help your family better plan for the future....more

Chambliss, Bahner & Stophel, P.C.

Can the Beneficiary of a Special Needs Trust Change the Trustee?

Chambliss, Bahner & Stophel, P.C. on

The beneficiary of a special needs trust can never control or access trust funds – that is the job of the trustee. A common fear among beneficiaries or their families is that the trustee may not do what’s in the beneficiary’s...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

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