To make the most of special needs planning: communication is the key
An 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.
What a parent can do to enhance the life of a special needs child
There are a great many things which a parent does for his or her child with special needs. This Blog lists six actions.
December 13, 2016 law allows mentally competent adults with a disability to establish their own special needs trust
In response to an outdated presumption in the law that all adults with a disability are not competent to handle their own affairs, the "Special Needs Trust Fairness Act” was signed into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.
Learn what other States currently offer as ABLE Accounts and what may be offered in New York
At least three States have rolled out ABLE Accounts for use by individuals with a disability. My survey of the offerings of these three States is not rigorous, instead it is a description of features which they offer and which might be built into an ABLE Account sponsored by New York
The dictionary defines a “Guardian” as a person who is entrusted by law with the care of the person or property, or both, of a minor.
The dictionary defines a “Guardian” as a person who is entrusted by law with the care of the person or property, or both, of a minor. The Guardian is the person who will raise your child in the event both you and your spouse have passed away. During the process of selecting an individual to be nominated as Guardian of your minor child under your Will, you should give consideration to the relationship of the Guardian to your child, the Guardian’s physical location, the values you share with the Guardian and the Guardian’s own home situation.