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...

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 Expenses Can ABLE Accounts Pay For?

In passing the Achieving a Better Life Experience (ABLE) Act in 2014, Congress created a new way for potentially millions of people with special needs to save for disability related expenses without jeopardizing their eligibility for federal public benefit programs....