A good special needs plan involves many key players, including a guardian, a health care proxy, an executor, a trustee and possibly a trust protector. It’s a good idea to review these selections on a regular basis, because change is inevitable.
The government is considering changing its inflation calculation in a way that could mean that millions of children, seniors and people with disabilities losing access to vital programs, and mean less money for those who still qualify.
The choice of trustee is one of the most important decisions you’ll make regarding your special needs trust. Here are five questions to keep in mind when considering who will serve in this crucial role.
Many parents have their retirement savings socked away in 401(k)s and IRAs. There are ways for beneficiaries to avoid paying taxes on the funds prematurely, but when a beneficiary has special needs, things get thorny.