A special needs trust can allow a disabled loved one to receive supplemental care while maintaining their Medicaid and/or SSI benefits. Drafting and administering the trust must happen with a clear understanding of how the SNT works in conjunction with government benefits. If the trustee, or their special needs trust attorney, does not follow the process correctly, the beneficiary could lose their government benefits.
Archive for November, 2016
Estate tax laws were overhauled by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (“Improvement Act”), by IRS proposed regulation § 2801, and by a series of cases which addressed estate planning issues. These recent developments, while not expansive, could significantly impact some estate and individual tax returns. Furthermore, Congress expanded the number of tax returns that could be subjected to penalties and interest for improper or late filings. Read More