If you have a family member with special needs, you probably already know that they are more vulnerable than your other family members when it comes to manipulation or abuse. What you may not have considered is how a financial windfall after you die could leave your...
Special Needs Trusts
How can a special needs trust help my child financially in the long-term?
One concern you need to have with leaving your child an inheritance is the effect it may have on his or her ability to receive federal benefits. Some options may reduce his or her benefits or make your child unable to receive any benefits, which creates more problems...
What is a third party special needs trust?
If you are someone with a disabled or special needs child, you might consider creating a trust to provide for your loved one. Some disabled individuals create their own trusts, but in doing so, they may disqualify themselves from receiving government benefits....
Can I appoint a conservator for my adult child after my death?
If you have an adult child with special needs, you no doubt worry what will happen when you are no longer here to care for him or her. This is especially true if your child requires constant care and supervision. You may have a conservatorship in place that allows you...
Is Asperger’s the same as autism?
In all ethnic, racial and socioeconomic groups, there has been a population of people whose behavior tends to fall outside established social norms. Researchers have attempted to create a vocabulary with which to better understand and explain such behavior. However,...
What is a pooled charitable trust?
Are you a United Kingdom resident with a dependent who has special needs? If so, you likely know a little about trusts. These allow you to manage assets and finances for a loved one even after your passing. It is a great tool for caretakers who have loved ones who cannot...
When Does it Make Sense to Create a Trust?
In concept, trusts can be an excellent way to pass assets to your beneficiaries without making them go through the burden and expense of a United Kingdom probate case. However, this estate planning tool may not be the right answer for every situation. So, when does it...
Emotional issues and creating a special needs trust
Those who have a family member with special needs are well-advised to explore the benefits of special needs trusts. Many people focus on the financial perks of this option, which may include allowing a loved one to continue receiving critical support from government...
Special Needs Trust Essentials
When an individual has a significant disability, and financial resources are limited, qualifying for government programs is usually a crucial part of how he or she will be able to meet their basic needs. Because these programs are income-sensitive, qualifying...
Efficient Use of Your Resources with a Special Needs Trust
Living with a disability can be financially challenging, especially when you rely on income-sensitive government programs to support yourself. Although these resources can help cover basic living and medical costs, they don't pay for much else. Fortunately, when you...