Question of the Month: Can I save for my special needs child’s future? She has a disability and will need Medicaid and SSI when she is age 18.
This month’s question: "Can I save for my special needs child's future? She has a disability and will need Medicaid and SSI when she is age 18." Beth's answer: Yes, you can now save for your child's future without affecting Medicaid and SSI eligibility and without spending legal fees. As [...]
This month’s question highlights the difference between taking care of your heirs and taking care of yourself: “I have a Will, why do I need a Power of Attorney?” These two legal documents have very different purposes. A Will – also called a Last Will and Testament – specifies what [...]
An ABLE Act account can be an important part of your estate and special needs plan, including special needs trusts. One of the articulated purposes of the ABLE Act is “to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, [...]
Estate planning for families with a special needs family member – someone who is physically or mentally disabled or intellectually limited – is critical because many assistance programs are facing cuts or benefits cut-backs. The easiest form of planning is to create either a testamentary (inherited) special needs trust (SNT) [...]
At the beginning of 2016, the Stephen Beck, Jr. ABLE Act of 2014 (known as the “ABLE Act”) became law. The remarkable aspect of this law is that some, but not all, of the rules regarding resource limits under SSI ($2,000) and Medicaid are now modified as a result of this federal legislation. [...]
New York State Medicaid administers a comprehensive community home care program called Managed Long Term Care (MLTC) on Long Island, and New York City and its boroughs. Long Island is well served by MLTC programs, but there are issues you need to be aware of – that I will discuss in [...]