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ABLE Accounts: Housing and ISM
February 24th, 2020
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…
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ABLE Accounts: The Basics
February 24th, 2020
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…
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Achieving Better Life Experience
September 12th, 2019
Do I have to spend down my entire settlement or inheritance to be able to keep my Supplemental Security Income (SSI)? No! There is a new savings tool available to individuals with disabilities called the ABLE account. ABLE stands for Achieving a Bett…
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Third-Party Special Needs Trusts: Protecting an Inheritance for a Loved One with Disabilities
April 1st, 2018
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…
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Categories: Special Needs Planning
What Professional Advisors Need to Know About Special Needs Trusts Pursuant to 42 U.S.C. §1396p (d)(4)(A)
January 1st, 2018
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”…
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Categories: Special Needs Planning
Pooled Trusts
January 1st, 2018
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…
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Categories: Special Needs Planning
Introduction to Special Needs Trusts
January 1st, 2018
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…
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Categories: Special Needs Planning
