With a Little Help from My Friends
One of the biggest misconceptions related to Community (Home Care) Medicaid is the idea that one thinks they and/or their loved one is not eligible for services because “they make too much money.” In New York State, for one...more
Choosing the right person to serve as trustee of a special needs trust (SNT) is a key task when creating such a trust. It may also prove to be one of the most challenging. Trustees are responsible for the following: ...more
Using Pooled Income Funds in income and estate tax planning....more
Overview - For many years, the name of the game in retirement planning for income and estate tax purposes has been to maximize the tax deferral of qualified retirement and IRA accounts while preserving the ability to...more
Leaving an inheritance to a loved one with special needs who is or will be receiving government benefits (SSI, medical assistance, long term care services) is tricky and can have unintended negative consequences if not done...more
Major changes to the “kiddie tax” could significantly increase the tax liability of assets placed in special needs trusts if the trust’s beneficiary is a minor and the income the trust earns is high enough. Congress...more
Most special needs trusts (SNTs) are set up to benefit one individual. But it’s possible to contribute to a trust where the funds of many people with special needs are “pooled.” This kind of trust, called a pooled or...more
The Securities and Exchange Commission is proposing to simplify and modernize the regulatory framework governing exchange-traded funds and enhance information to investors about the costs of purchasing ETF shares. If adopted,...more
An Indiana-based pooled special needs trust has been accused of passing along some $2.4 million in legal fees to the trust beneficiaries without explaining what the fees were actually used for. A pooled special needs...more