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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 0 785 Article rating: No rating
Special Needs TrustIf 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

Actions Prior to Age 18: Have Family Members Communicate and Coordinate Gifts to Your Child

To make the most of special needs planning: communication is the key

George H. Gray 0 757 Article rating: No rating
Childrens Gifts Age 18An important task you can complete prior to the time your child turns eighteen is to have a candid conversation with your parents and sibling.  If they are disposed to make a significant gift to your child by Will or otherwise, you should ask them to coordinate their efforts and to make their large gifts to a Third Party Supplemental Needs Trust.

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 1064 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Special Needs Trust Fairness ActIn response to an outdated presumption in the law that all adults with a disability are not competent to handle their own affairs, the "Special Needs Trust Fairness Act” was signed into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.  


Special Needs Trust Fairness and Medicaid Improvement Act (HR 670) Amended

House of Representatives Bill Amended on September 20, 2016

George H. Gray 0 846 Article rating: No rating
A first party supplemental needs trust allows a person with a disability limited access to resources without affecting his or her means-tested government benefits. It allows a person with a disability who has received, for example, an inheritance, an award of back benefits or a personal injury award to enjoy the bounty of the inheritance or award without jeopardizing the receipt or amount of those benefits. 
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