Previously, I discussed the differences between Social Security Disability Income (SSDI) and Supplemental Security Income (SSI) . Two other government programs that frequently confuse people, including professionals, are the differences between Medicaid and Medicare.
Medicare
Medicare is a health insurance program for persons over the age of 65 and for those with certain disabilities who receive SSDI. [...]
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 [...]
Comprehensive planning for your child with special needs includes both legal planning to ensure financial security and information-gathering in order to write a guide for future caregivers. My hope is to alleviate some of the worries and unique concerns parents face when thinking about the future of their special needs children.
The Letter of Intent is [...]
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 [...]
How do parents of children with special needs, whether that child is 5 or 35, predict just how much money their disabled child will need for their future comfort? There are many variables to consider, including: life expectancy; the rate of inflation; investment return; the amount of benefits the government will provide decades from now [...]
Many parents are concerned about how they can fund a supplemental needs trust, especially in these rough economic times. Parents are also concerned about how their other children will feel if they divide their estate assets unevenly, providing more for their siblings with disabilities. These siblings might have even more resentment if they end up [...]
