What can a Supplemental Needs Trust provide for a beneficiary? There are many goods and services which can enhance and enrich the life of a SNT Beneficiary George H. Gray / Thursday, February 2, 2017 0 3128 Article rating: 4.0 Review a non-exhaustive list of the goods and services a special needs trust can provide a beneficiary with a disability Read more
Consider a Health Care Proxy or Power of Attorney for your adult child with a disability If your child with a disability is an adult and has capacity, her or she should sign a Health Care Proxy and a Power of Attorney George H. Gray / Friday, January 27, 2017 0 23339 Article rating: 3.6 Don’t automatically assume that your adult child with a disability may not sign a POA or a HCP. These are two instruments which allow members of your child’s circle of support to assist him or her to make important financial and health care decisions. If the nature of your adult child’s disability is not related to cognitive functioning, he or she should be considered “competent” and capable of signing these two most important documents. Read more
Establish an ABLE Account for your child Read about a new savings vehicle for persons with a disability soon to be available in New York George H. Gray / Sunday, January 22, 2017 0 2363 Article rating: No rating It is difficult for your child with a disability to accumulate resources for future discretionary spending or to purchase a “big ticket” item. Your child is limited to meager savings if he or she is means tested government benefits. Recognizing this difficulty, Federal Law authorized States to establish ABLE programs to offer a tax favored vehicle for savings. Read more
Actions during your lifetime: Establish a Third Party Supplemental Needs Trust for your child with a disability. Read why Third Party SNT's are so useful and popular George H. Gray / Tuesday, January 17, 2017 0 2132 Article rating: No rating It is natural to want to make the resources of your immediate and extended family available to your child with a disability without jeopardizing his or her eligibility for means-tested government benefits. This is the reason why a Third Party Supplemental Needs Trust is so useful and popular. Read more
Actions prior to age sixty-five: Establish a First Party Special Needs Trust A brief explanation of the advantages and operation of a First Party Special Needs Trust George H. Gray / Wednesday, January 11, 2017 0 2192 Article rating: No rating If the amount of a gift, inheritance or personal injury award received by your child exceeds the resource limits for Supplemental Security Income or Medicaid, it will jeopardize his or her eligibility for those means-tested government benefits Read more
