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...

Prepaid Debit Cards for SNT Beneficiaries

Prepaid Debit Cards Enable Special Needs Trust (SNT) Beneficiaries to Quickly and Independently Make Purchases   More and more, trustees of SNTs are relying on “administrator-managed prepaid debit cards” when disbursing funds to beneficiaries. True Link is a...

What Assets Are Counted When Applying for SSI?

First, What’s the Difference Between SSI and SSDI? Supplemental Security Income (SSI) is a federal program that helps people with disabilities and very low incomes pay for food, clothing, and shelter. SSI is often confused with Social Security Disability...

How to Earn Additional Income Without Losing SSI Income

The Social Security Act imposes a $2,000 asset limit on SSI beneficiaries, a figure that has remained frozen since 1989. For couples, the limit is $3,000. For 2018, the maximum monthly SSI benefit is $750, although many states provide a further supplement. However,...

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...