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Will possession of a gift card/certificate affect individual’s Supplemental Security Income?

The answer to the question is: “It Depends.”

George H. Gray 0 477 Article rating: No rating
The receipt of unearned income during a month will generally result in a dollar-for-dollar reduction in Supplemental Security Incomespecial_needs_trusts_and_gift_cards benefits (“SSI”); subject only to the $20 exclusion amount.  Whether a gift card/certificate is deemed income depends upon the restrictions placed upon its use.  

Can a Special Needs Trust pay a beneficiary’s credit card bill?

The answer is: It Depends

George H. Gray 0 504 Article rating: No rating
If a special needs trust (a “SNT”) pays a credit card bill, the consequence of that payment depends upon what was on the bill!  ForCan_a_special_needs_trust_pay_a_credit_card_charge example, if the SNT pays a restaurant charge made while the beneficiary is home, it will reduce his or her Supplemental Security Income (“SSI”) benefit.  If, on the other hand, the SNT pays a charge for clothing it will not result in a reduction of SSI benefits

Can a Supplemental Needs Trust pay for restaurant meals?

It cannot if you're at home; it can if you're on vacation

George H. Gray 0 307 Article rating: No rating
can_a_SNT_pay_for_restaurant_meals

The answer to the question is: “It Depends.”  The SNT should not pay for a restaurant meal while the beneficiary is at home; but, it can pay for restaurant meals while the beneficiary is on vacation!  

Why Millennials Need a Will

You are not too young to have a Last Will & Testament

George H. Gray 0 316 Article rating: No rating

Why_Millennials_need_a_WillMany millennials believe that because they have a young family and have not accumulated a significant Estate they do not need a Will.  If you imagine the unthinkable and one parent dies, what becomes of his or herstuff

Why Do I Need To Appoint a Trustee As Part of My Estate Plan?

Trusts are a more often used Estate Planning strategy than conventional wisdom would predict

George H. Gray 0 359 Article rating: No rating
Why_I_need_a_TrusteeTrusts are more commonly used in the Estate Plan of a middle-class New Yorker than conventional wisdom would predict.  For instance, a trust for the benefit of minor children is always a good idea when planning for their lives after the death of both parents.  Parents and grandparents of a child with special needs will find the many advantages of a supplemental needs trust worth exploring. Elderly couples may find an irrevocable income only trust a useful tool in their Medicaid Planning.
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