» Special Needs Planning

ABLE Accounts: Resources and Developments, Including a Special Opportunity for Mainers

The ABLE account was passed by Congress in December of 2014, and it has evolved over the handful of years since then through changes in the law and the adoption of regulations expanding the understanding of, and uses for, ABLE accounts. One recent pi… Read More
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ABLE Accounts: Housing and ISM

The ABLE account is a relatively new planning tool that offers an individual with eligible disabilities a tax-free savings option that does not interfere with their eligibility for means-tested government benefits. As discussed in the first article i… Read More
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ABLE Accounts: The Basics

The Achieving a Better Life Experience Act (ABLE Act) was passed by Congress in December of 2014, authorizing the states to establish programs with special financial accounts for individuals with disabilities. The ABLE law refers to these individuals… Read More
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Third-Party Special Needs Trusts: Protecting an Inheritance for a Loved One with Disabilities

Estate planning is especially vital for those who have loved ones with disabilities who receive and rely on public benefits like Supplemental Security Income (SSI) and Medicaid (called MaineCare in Maine). This includes parents and grandparents of ch… Read More
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What Professional Advisors Need to Know About Special Needs Trusts Pursuant to 42 U.S.C. §1396p (d)(4)(A)

Why Does 42 U.S.C. § 1396p(d)(4)(A) Matter to an Individual with Disabilities? Many individuals with disabilities depend on public benefits like Supplemental Security Income (SSI) and Maine Medicaid (MaineCare). Those benefits are “means-tested”… Read More
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Pooled Trusts

A pooled trust is one way to protect the assets of individuals with disabilities who depend on public benefits to meet their basic needs. The federal law and Maine Medicaid (MaineCare) rules that authorize d4A trusts created for the benefit of one in… Read More
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Introduction to Special Needs Trusts

A special needs trust is established for the benefit of an individual with disabilities. There are several types of special needs trusts, but the purpose of all special needs trusts is the same: to maximize resources and to administer trust assets wi… Read More
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