Tag Archives: FUNDS

Basics of Estate Planning Re: IRAs

IRAs are one the trickiest assets for estate planning attorneys to handle for many reasons. First, they often are overlooked in the estate planning process because they cannot be transferred during lifetime.  This asset, like some other assets, are controlled by beneficiary designation.  While the client might remember a large IRA, they often forget smaller IRAs.  As a result, beneficiary designations often are left unchanged even when circumstances have changed, making those designations no longer appropriate. Continue reading

5 Issues to Consider When Creating a Special Needs Trust

While day-to-day obligations can certainly get in the way, at some point as a parent of a child with special needs you will need to create a special needs trust to shelter and manage whatever you may leave the child. This is the only safe way to make sure that the funds you leave are protected and well managed and that the child, who by then is probably an adult, can continue to qualify for vital public benefits.

Here are some of the questions you will need to consider in guiding your attorney to create the trust: Continue reading

What is a Third Party Special Needs Trust??

Special needs trusts come in three main flavorsfirst-party special needs trusts, third-party special needs trusts, and pooled trusts.  All three trust varieties are designed to manage resources for a person with special needs so that the beneficiary can still qualify for public benefits like Supplemental Security Income (SSI) and Medicaid.  While first-party special needs trusts and pooled trusts hold funds that belong to the person with special needs, third-party special needs trusts, as the name implies, are funded with assets that never belonged to the trust beneficiary, and they provide several advantages over the other two types of trusts. Continue reading

What is a Third-Party Special Needs Trust??

Special needs trusts come in three main flavorsfirst-party special needs trusts, third-party special needs trusts, and pooled trusts.  All three trust varieties are designed to manage resources for a person with special needs so that the beneficiary can still qualify for public benefits like Supplemental Security Income (SSI) and MedicaidContinue reading

How to Ensure Your Pets are Cared for After You’re Gone

Pet trusts have become more and more popular over the years as senior pet owners are looking for ways to ensure their pets will be well cared for when they’re not longer able to do the caring.

Here are sine tips to help you get stated.

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