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Is a Special Needs Trust Necessary for My High-Functioning Child?
When parents think about estate planning for their
high-functioning child with special needs, they often assume that a Special
Needs Trust (SNT) isn’t necessary, especially if the child is not likely to be
receiving public benefits like Supplemental Security Income…
Empowering Your Newly Turned 18-Year-Old: The Importance of Health Care Proxies and HIPAA Waivers
When your child turns 18, it’s a moment of pride and
transition. They’re stepping into adulthood, gaining independence, and making
decisions for themselves. But as exciting as this milestone is, it’s easy to
overlook one critical detail: the change in…
Why You Need Guardianship When Your Child with Disability Turns 18
As parents, navigating the transition to adulthood for a
child with disabilities can be overwhelming, especially when it comes to legal
responsibilities. When your child turns 18, they are legally considered an
adult, which often comes as a surprise to…
Understanding ABLE Accounts
The
Achieving a Better Life Experience (ABLE) Act, signed into law in 2014, created
a powerful savings tool for individuals with disabilities. ABLE accounts allow
people with disabilities to save money without losing access to essential
government benefits like SSI…
Understanding the Difference Between Estate Planning and Financial Planning
Have you ever wondered what would happen to your assets,
loved ones, or financial future if something unexpected occurred? Whether
you’re preparing for retirement, leaving a legacy for your family, or simply
ensuring peace of mind, understanding the difference between…
Moving to a New State? Don’t Forget to Review Your Estate Plan!
Relocating to a new state is exciting—new surroundings, new opportunities—but amidst the hustle and bustle, have you considered how the move might affect your estate planning documents? Technically, your will, trust, and power of attorney are still valid. The U.S.…
How Does Child Support Affect My Disabled Child’s SSI After They Turn 18?
As a parent of a disabled child approaching adulthood, you may be wondering how child support payments will affect their Supplemental Security Income (SSI). The simple answer is “yes”—child support does reduce your child’s SSI benefits. Here’s how it works:Child…
Why You Should Consider a Spousal Lifetime Access Trust (SLAT) Before 2026?
Estate
planning can feel overwhelming, especially with changing tax laws. One tool
that’s gaining popularity among high-net-worth couples is the Spousal Lifetime
Access Trust (SLAT). If you’re looking to preserve your wealth and minimize
estate taxes, understanding SLATs is crucial.…
Understanding Federal Estate Taxes and Spousal Deduction (US Citizen and Non-US Citizen spouse)
Hey there, welcome to my explanation about Federal Estate and Gift Taxes in the United States. I’ll break it down in a way that’s easy to understand.Federal Estate Tax Overview:The federal estate tax in the United States is…