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Gray & Feldman Legal Blog

 

The President Signs the Special Needs Trust Fairness Act into Law

December 13, 2016 law allows mentally competent adults with a disability to establish their own special needs trust

George H. Gray 0 1934 Article rating: 5.0

Special Needs Trust Fairness ActIn response to an outdated presumption in the law that all adults with a disability are not competent to handle their own affairs, the "Special Needs Trust Fairness Act” was signed into law on December 13, 2016.  The Act will insure that a mentally competent adult with a disability can establish his or her own special needs trust.  


Proposed Changes to ABLE Accounts are moving through Congress.

Later this year, persons with a disability will be allowed to establish a savings account.

George H. Gray 0 5977 Article rating: No rating
ABLE Accounts are coming.Later this year, persons with a disability will be allowed to establish a savings account called an “Achieving Better Life Experience,” or ABLE Account. These accounts will allow a person with a disability to set aside up to $14,000 per year to be used for the purpose of meeting the “qualified disability expenses.”
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