The purpose of a special needs trust is usually to provide some kind of supplemental support for an individual with special needs without eliminating their eligibility for certain kinds of state aid, such as Medicaid benefits. A special needs trust provides structured...
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Principled Advocacy For Families And Individuals With Disabilities And The Professionals Who Serve Them
Estate Planning
More special needs planning tips: Choosing a trustee
Those with special needs family members face many worries and fears. The care, happiness and safety of their loved ones are always concerning. It leaves them wondering who will fill their shoes and care for their relatives after they die. You can choose any eligible...
You can decide when your heirs get their inheritance
There are many people who are a bit wary of leaving a significant amount of money to their heirs. They may believe that their heirs are not mature enough to handle it at their current age. They don’t want their inheritance to be squandered. They may also worry that a...
What’s included in an estate plan?
Have you ever made an estate plan? If not, then you aren’t alone. Many people have not only never made a will but many pass away without one, which can create a lot of issues for their families. Without an estate plan, your estate would likely be distributed by the...
3 tips for special needs planning
If you have a loved one living with a disability, special needs planning ensures their needs are met when you become incapacitated or die. Including their inheritance or funds with those of other beneficiaries may lead to unfairness. For this reason, you should...
Who makes medical decisions when you can’t?
Many adults focus on the distribution of their assets when they’re creating their estate plans. There’s something else you need to consider when you’re crafting your plan: What might happen if you’re incapacitated. You can’t make decisions for yourself if you’re...
Will your Illinois estate need to pay estate taxes?
The decisions you make during the estate planning process will have a direct impact on your financial stability later in life and on the inheritance that your loved ones may receive from you. You have to consider many factors including the complicated relationships...
3 groups a trust can protect you from
An irrevocable trust could prove an essential estate planning tool if you fear someone else will take your assets. It can help you to preserve them for the beneficiaries you choose. Here are some people that an irrevocable trust could keep your money safe from: 1....
2 estate planning tips for new parents
Not many life events are as momentous as learning that you are going to be a parent in a couple of months’ time. There is no doubt that your life is bound to change in major ways, and one of the things you need to take care of is your child’s well-being. This is where...
Guess what? Your kids likely don’t want your household stuff
When you start to get your estate plan in order, dividing up things like your bank, retirement and investment accounts is easy. It’s harder, though, to decide how you want to divide a houseful of mementos and personal items. You may, however, be stressing out over...