Raising a child with special needs is hard on marriage. Today, the divorce rate among all couples is over 50%. Although statistics differ, there is no question that divorce rates are even higher among parents of children with special needs.
When a couple divorces, it is even more important to consider the financial needs of their [...]
Many people, including lawyers, confuse two very different government programs for disabled persons. Although both are overseen by the Social Security Administration (SSA), there are some significant differences both in how the programs are funded, and to whom the money is distributed.
Social Security Disability Income (SSDI)
SSDI is a program for disabled persons. It has no [...]
When is it appropriate to choose a pooled supplemental needs trust instead of an individual special needs trust?
A pooled trust has many of the same purposes as an individual supplemental needs trust. A pooled trust is established to provide for a beneficiaries’ supplemental needs without jeopardizing the disabled person’s government benefits.
Funds that are held in [...]
The reported rate of autism spectrum disorders (ASD) has significantly increased and is now expected to affect 1% of children ages 3 to 17, or approximately 1 in every 100 children, according to two recent major studies. Both the Centers for Disease Control and Prevention (CDC) and a study published in the journal Pediatrics indicate [...]
What is a Power of Attorney?
A Power of Attorney is a powerful and important legal document delegating authority from one person to another. It allows the agent you’ve appointed to make financial decisions on your behalf. The person giving the authority is known as the principal, while the person to whom the authority is given [...]
In Part One and Part Two of Choosing a Trustee for Your Special Needs Trust, I described the numerous duties of a Special Needs trustee and the different factors that must be considered in choosing the trustee. In this final post, I offer some suggestions as to how to make that choice in order to [...]
In Part One of Choosing a Trustee for Your Special Needs Trust, I discussed all the different responsibilities and jobs a trustee must fulfill to properly administer the trust. It is also important to really assess both the current and potential future needs of your child.
Considerations to Use in Choosing a Trustee
There are a variety [...]
The terms “special” and “supplemental” are often used interchangeably. Frequently, “special” refers to a first party, or self-settled trust, while “supplemental” refers to a trust settled by a third party which supplements basic food and shelter. Other sources define “special” as one in which the trustee has limited discretion to make distributions, whereas [...]
For many years, we have provided for our loved ones with special needs and serious disabilities. We have taken them to occupational/physical/speech therapists. Found special camps. Had endless meetings with our school districts. Driven countless hours. Shopped with love for just the right gift to bring a smile. Bought a special [...]
If you are the parent of a child with special needs as I am, you know that one of our greatest fears is how our children will be taken care of when we are no longer able to do so ourselves. Even worse, our fear only becomes greater as our children get older and [...]
