Recent Posts in Special Needs Trusts Category

What Events Trigger Changes to the Estate Plan? Part Three

Most events can be broken down into three categories Personal, Financial and Legal. A note on “Legal” changes Legal changes that can affect a plan include changes in the tax law, asset ...
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What Events Trigger Changes to the Estate Plan? Part Two

Most events can be broken down into three categories Personal, Financial and Legal. The following is a review of several common events in the Financial category, but it is by no means exhaustive: ...
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What Events Trigger Changes to the Estate Plan? Part One

Most events can be broken down into three categories Personal, Financial and Legal. The following is a review of several common events in the Personal category, but it is by no means exhaustive: ...
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ABLE ACCOUNT: Is it the right tool for me? - Part Four

Uses of the ABLE Account A person receiving needs-based government benefits often has a dilemma when it comes to saving, whether for education or for unexpected events, all while maintaining public ...
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ABLE ACCOUNT: Is it the right tool for me? - Part Three

Tax Benefits ABLE accounts have tax benefits similar to 529 accounts. Qualified distributions from the account are not counted as taxable to either the contributor or the beneficiary. Qualified ...
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ABLE ACCOUNT: Is it the right tool for me? - Part Two

Financial Limitations on ABLE Accounts There are currently limitations as to the amount of savings that can be held in an ABLE account. The first such limitation deals with the annual contribution ...
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ABLE ACCOUNT: Is it the right tool for me? - Part One

There are many unique components of special needs planning, one of which is to ensure that individuals with special needs remain eligible for important needs-based government benefits such as ...
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Estate Planning for Families with Special Needs Children - Part Three

“First Party” Special Needs and Pooled Interest Trusts If you are the person in Scenario 2 from Part 1 of this series (the person receiving governmental benefits) and you receive a ...
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Estate Planning for Families with Special Needs Children - Part Two

Supplemental Needs Trusts If you are the person in Scenario 1 from Part 1 of this series (the parent or grandparent of a child with special needs), and you wish to provide your loved one with ...
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Estate Planning for Families with Special Needs Children - Part One

Who Needs Special Needs Planning? Any family member or loved one with disabilities or special needs who relies (or may come to rely) on certain needs-based government benefits [e.g. Supplemental ...
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How Can an Irrevocable Trust Benefit You? Part 2

Last time, we discussed asset protection and protection against estate, income, and capital gains taxes through irrevocable trusts. Here are some other benefits of irrevocable trusts: Special Needs If ...
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How Can an Irrevocable Trust Benefit You? Part 1

Estate Tax Protection Insurance, real estate, brokerage and bank accounts, and other personal property can be transferred to your irrevocable trust to insulate the assets in your trust from inclusion ...
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How Do I Leave an Inheritance to My Child with Special Needs?

Special needs trusts in Connecticut are an invaluable tool for protecting children with special needs. The most common type of trust that we see used for this purpose is what is referred to as a ...
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Connecticut Special Needs Planning Primer

The following Q&A is for general informational purposes only. Special needs planning is a complicated area of the law and this blog does not serve as specific advice to anyone. Before engaging in ...
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Special Needs Trusts for Children and Grandchildren with Disabilities or Learning Disorders

A major concern we see amongst parents and grandparents that have kids/grandkids with special needs is that these loved ones will not be taken care of when they are gone. Many parents and grandparents ...
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