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 2131 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 2191 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
Actions Prior to Age 18: Secure Article 17-A Guardianship Article 17-A Guardianship is an important tool available to a parent of an intellectually or developmentally disabled child George H. Gray / Saturday, January 7, 2017 0 2508 Article rating: 5.0 Read why a parent of a young adult with an intellectual or developmental disability should go to Court to seek appointment as an Article 17-A Guardian Read more
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 / Thursday, January 5, 2017 0 2282 Article rating: No rating 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. Read more
