erickearneyFeb 13 minQuestions to Help You Choose the Right Professional Trustee for Your Special Needs TrustParents or other family members establishing a special needs trust for their child often want to name a professional -- usually a bank,...
Eric KearneyNov 14, 20193 minYear-End Gifts to Family Members With Special NeedsHere are some things to consider when making holiday gifts to family members who are on public benefits.
Eric KearneyOct 1, 20193 minFunding a Special Needs Trust with Life Insurance: The BasicsFunding a special needs trust with life insurance can be a means to provide money to a loved one with special needs.
Eric KearneyApr 11, 20193 minIRA Distributions to Special Needs Trusts - Minimizing Income TaxesFor many parents, the majority of their savings is held in some kind of a retirement account, often an Individual Retirement Account...
Eric KearneyFeb 16, 20192 minWhat 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 KearneyJan 3, 20192 minPooled 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 KearneyJun 4, 20182 minSocial Security Provides Guidance on the Use of Prepaid Debit Cards by Special Needs Trust BeneficiaSSA recently issued new guidance regarding the use of prepaid debit cards like True Link with Special Needs Trusts. This marks the first tim
Eric KearneyMay 3, 20183 minCan 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
erickearneyMay 2, 20183 minHighlights From the New POMSSpecial Needs Planners are excited about the new POMS that the Social Security Administration released regarding Special Needs Trusts. Learn
Eric KearneyMay 1, 20181 minNew SSA POMS on Special Needs Trusts IssuedNew guidance from Social Security Administration regarding Special Needs Trusts (SNTs) has issued. Take a look at the provisions.
Eric KearneyMay 1, 20182 minWhat 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...
erickearneyApr 3, 20181 minSocial Security Administration Updates SSI Resource List to Include SNTs and ABLE AccountsThe Social Security Administration’s Understanding Supplemental Security Income (SSI) website is a recently updated reference for...
Eric KearneyNov 4, 20172 minABLE account aggregate annual contribution raised to $15,000 nationallyThe 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
erickearneyOct 8, 20172 minKey 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...
Eric KearneySep 13, 20171 minCMS Guidance on ABLE AccountsAt long last the Centers for Medicare & Medicaid Services (CMS) had provided guidance to states on how to treat “ABLE” accounts in...
Eric KearneyAug 3, 20172 minIs 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 KearneyDec 13, 20161 minSpecial Needs Fairness Act PassesThe Special Needs Fairness Act has been signed into law as part of the 21st Century Cures Act. Competent disabled individuals can now establ
erickearneyDec 8, 20161 minProgress on the SNT Fairness ActThe 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...
erickearneyDec 1, 20161 minHouse Passes Health Package with SNT Fairness ActThe House passed H.R. 34 – 21st Century Cures Act, a major health care package that included the Special Needs Trust (SNT) Fairness Act (Sec
erickearneySep 1, 20163 minWhat Is a "Third-Party" Special Needs Trust and How Is It Different From Other Kinds of TrSpecial needs trusts come in three main flavors -- first-party special needs trusts, third-party special needs trusts, and pooled trusts....