Category: Special Needs Planning

Your Estate Plan and Disabled Children: Things to Keep in Mind

Is it possible that you’ve just assumed you’ll be around for many years to help care for your disabled child? In many cases, parents of children with special needs have become an important component of assisting their child on a daily basis. Without any proper planning, though, the transition for your loved one to manage[...]

Key Tips for Giving Gifts to Individuals with Special Needs

The tax code is extremely complex and it is one of the primary reasons that nobody likes tax season. One common point of confusion for individuals all over the country is the gift tax. Although many people are familiar with the concept of the magic number being $14,000, they are not familiar with the consequences[...]

Estate Planning for Parents of Children Who Have Special Needs

It is essential for every individual to conduct an estate planning review on a regular basis but parents of children with special needs should consult with an estate planning attorney who has expertise in this area. It is a good idea to consider using what's known as a supplemental needs trust to provide for your[...]

Special Planning Considerations

Estate planning is typically divided into two categories: (1) Estates large enough to require tax planning (which in New Jersey, because of decoupling, occurs on estates with as little as $675k in assets) and (2) Estates that require little or no tax planning. Good estate plans should also consider an additional sub category of complexity,[...]

Guardianship of Children With Special Needs

Two good posts coming from Leanna Hamill in Massachusetts and Tredway, Lumsdaine & Doyle in California on planning for children with special needs.  Among the excellent suggestions are the following: Special Needs Trust - allowing parents, grandparents and guardians to provide funds for a special needs child without disrupting eligibility for government aid. Exploring the[...]