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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 0 135 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 0 257 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Special Needs Trust Fairness ActIn response to an outdated presumption in the law that all adults with a disability are not competent to handle their own affairs, the "Special Needs Trust Fairness Act” was signed into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.  

An Unscientific Survey of ABLE Account Offerings

Learn what other States currently offer as ABLE Accounts and what may be offered in New York

George H. Gray 0 183 Article rating: No rating

ABLE Account OfferingsAt 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

What is a Guardian?

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.

George H. Gray 0 162 Article rating: No rating
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. 
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