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Law Office of
Eric M. Kearney, LLC
Guardianship | Medicaid | Special Needs
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Leaving an IRA to a Special Needs Trust Is No Longer Such a Bad Idea
The SECURE Act, passed at the end of 2019, changed a number of rules regarding inherited IRAs, making it more difficult for most...
erickearney
Sep 1, 20212 min read
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Tips When Hiring a Caregiver for a Child with Special Needs
Hiring a caregiver for someone with special needs can be a daunting task. Not only do you have to find a person with the experience,...
erickearney
Jul 1, 20213 min read
25 views
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Questions to Help You Choose the Right Professional Trustee for Your Special Needs Trust
Parents or other family members establishing a special needs trust for their child often want to name a professional -- usually a bank,...
erickearney
Feb 1, 20213 min read
104 views
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Year-End Gifts to Family Members With Special Needs
Here are some things to consider when making holiday gifts to family members who are on public benefits.
Eric Kearney
Nov 14, 20193 min read
38 views
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Funding a Special Needs Trust with Life Insurance: The Basics
Funding a special needs trust with life insurance can be a means to provide money to a loved one with special needs.
Eric Kearney
Oct 1, 20193 min read
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IRA Distributions to Special Needs Trusts - Minimizing Income Taxes
For many parents, the majority of their savings is held in some kind of a retirement account, often an Individual Retirement Account...
Eric Kearney
Apr 10, 20193 min read
71 views
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What Can a Special Needs Trust Pay For?
A special needs trust is designed to provide a person with a disability the funds to enhance her quality of life while at the same time...
Eric Kearney
Feb 16, 20192 min read
106 views
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Pooled Trusts: Should You Consider Taking a Dip?
Most special needs trusts (SNTs) are set up to benefit one individual. But it’s possible to contribute to a trust where the funds of...
Eric Kearney
Jan 3, 20192 min read
21 views
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Social Security Provides Guidance on the Use of Prepaid Debit Cards by Special Needs Trust Beneficia
SSA recently issued new guidance regarding the use of prepaid debit cards like True Link with Special Needs Trusts. This marks the first tim
Eric Kearney
Jun 4, 20182 min read
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Can I pay for travel expenses out of a Special Needs Trust? Can I pay for Companion Care?
A frequent question I get as a special needs planner is “Can I pay for travel expenses out of a Special Needs Trust? What about companion ca
Eric Kearney
May 3, 20183 min read
2,106 views
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Highlights From the New POMS
Special Needs Planners are excited about the new POMS that the Social Security Administration released regarding Special Needs Trusts. Learn
erickearney
May 1, 20183 min read
255 views
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New SSA POMS on Special Needs Trusts Issued
New guidance from Social Security Administration regarding Special Needs Trusts (SNTs) has issued. Take a look at the provisions.
Eric Kearney
May 1, 20181 min read
87 views
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What Assets Are Not Counted When Applying for SSI?
Supplemental Security Income (SSI) is a federal program that helps people with disabilities and very low incomes pay for food, clothing...
Eric Kearney
May 1, 20182 min read
41 views
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Social Security Administration Updates SSI Resource List to Include SNTs and ABLE Accounts
The Social Security Administration’s Understanding Supplemental Security Income (SSI) website is a recently updated reference for...
erickearney
Apr 3, 20181 min read
59 views
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ABLE account aggregate annual contribution raised to $15,000 nationally
The IRS has confirmed an increase to Section 2503, the federal gift tax exclusion. Section 529A(a)(2) of the Stephen Beck Jr. Achieving a Be
Eric Kearney
Nov 3, 20172 min read
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Key Decisions in Setting Up a Special Needs Trust - Who will be the Trustee?
Simply defined, a trust is an agreement between two people -- a grantor who donates funds to the trust and a trustee who manages those...
erickearney
Oct 8, 20172 min read
50 views
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CMS Guidance on ABLE Accounts
At long last the Centers for Medicare & Medicaid Services (CMS) had provided guidance to states on how to treat “ABLE” accounts in...
Eric Kearney
Sep 13, 20171 min read
114 views
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Is There a Difference Between "Supplemental" and "Special" Needs Trusts?
You may have heard the terms "special" needs trust and "supplemental" needs trust and wondered what the difference is. T
Eric Kearney
Aug 3, 20172 min read
53 views
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Special Needs Fairness Act Passes
The Special Needs Fairness Act has been signed into law as part of the 21st Century Cures Act. Competent disabled individuals can now establ
Eric Kearney
Dec 13, 20161 min read
36 views
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Progress on the SNT Fairness Act
The Senate approved H.R. 34, the 21st Century Cures Act, which includes the Special Needs Trust Fairness Act, by a vote of 94 to 5. The...
erickearney
Dec 8, 20161 min read
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