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What Is An Estate Plan, What Are Its Elements, And Why Are They Important

George Gray talks about estate plans

George H. Gray 0 236 Article rating: No rating
Hello and Welcome. My name is George Gray. I’m a partner in the law firm of Gray and Feldman with offices in Penfield NY. My areas of practice include wills, trusts, and estates and providing special needs planning for families of an individual with a disability.  During the course of my representation, I am often asked “what is an estate plan, what are its elements, and why are they important”

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

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

George H. Gray 0 728 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 0 871 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 0 573 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!  

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