Special Needs Trust
Good News! Covid-19 Stimulus Check & SSI/Medi-Cal LTC recipients
Stimulus checks will not be counted as income and therefore will not impact Medicaid beneciaries or applicants. However, should the stimulus money not be spent within 12 months, it may be counted as an asset, and therefore could impact eligibility in the year ahead.
Can you take advantage of the new 529 ABLE Account?
There’s a new asset protection tool for competent, disabled adults that can work in conjunction with a special needs trust or even by itself in some cases. It’s a great way to protect your money if you meet the requirements, are receiving public benefits, and if it meets your financial and independence needs. It’s called … Continue reading
Looking good for the SNT Fairness Act
The Special Needs Trust Fairness Act, a bill that would allow people with disabilities to create their own first-party special needs trusts without having to rely on others, has passed the House of Representatives by a vote of 382 to 22. In a statement in its September 21 eBulletin, the National Academy of Elder Law Attorneys … Continue reading