Special Needs Trusts and ABLE Accounts: Why You Probably Need Both

Special Needs Trusts and ABLE Accounts: Why You Probably Need Both

There has been a lot of excitement over the development of ABLE accounts recently. While ABLE accounts can be helpful planning tools for people with disabilities, they are certainly not a replacement for Special Needs Trusts. We’ll briefly look at why that is...

The Top Five Responsibilities of a Trustee of a Special Needs Trust

If you are considering taking on the responsibility of serving as the trustee of a special needs trust, you will probably have questions about the trustee’s role. Trustees of special needs trusts have many important responsibilities, but these five likely rank...

Are Parents the Best Trustee for a Special Needs Trust?

It is quite common for a parent to want to serve as the trustee of a special needs trust for their child, especially when the parent is the one creating or funding the trust. There are many reasons why this makes sense: • It enables the parent to have complete control...

How to Choose a Special Needs Trustee: 5 Considerations

Choosing the right person to serve as trustee of a special needs trust is one of the most important and difficult issues in creating the trust. Trustees typically take care of important tasks like the following: • managing day-to-day operations of the trust, •...
What Happens After I Die If I Have a Revocable Trust?

What Happens After I Die If I Have a Revocable Trust?

Revocable trusts are often promoted with an “Avoid Probate” slogan. They are supposed to make things easier for your descendants to manage after your death. This is certainly true most of the time, but what really happens after you die? And how can you...