Ruder Ware's Elder Law Team Recognizes National Special Needs Law Month - Part 2
August is “National Make-a-Will” Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what...more
A supplemental needs trust (SNT) is an important estate planning tool for those with a special needs child. It ensures that your special needs child is taken care of after you are gone. Unlike other types of trusts, assets...more
Trusts serve a variety of tax, asset protection and estate planning purposes for families, and over the years different types of trusts have evolved to best serve families’ planning needs and objectives. Each type of trust...more
According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are:.....more
People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more
On January 30, 2023, the Minnesota Court of Appeals issued an opinion in In re Eva Marie Hanson Living Trust addressing the ability of an attorney-in-fact to amend a revocable trust on behalf of an incapacitated trust...more
Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...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
Estate planning for parents of children with special needs can be overwhelming. Not only do parents need to consider how to provide for their child after they are gone, but they must also consider issues relating to how an...more
In This Issue: - Social Security benefits When is the right time to begin receiving payments? - Planning ahead after a divorce - ABLE accounts benefit disabled family members - Estate planning pitfall: You chose...more
A Special Needs Trust (SNT) can play an important role in preserving the financial security and lifestyle of a person with special needs. A properly drafted SNT allows the individual to benefit from supplemental resources...more
Because beneficiaries of programs like Supplemental Security Income (SSI) and Medicaid must be quite poor to qualify, they can lose their benefits when they come into an inheritance, receive money in their own names from an...more