President Obama just signed a new law that allows First Party Special Needs Trusts to be established by mentally competent individuals for their own benefit. This is a major “fix” to the current law which only allows First Party Special Needs Trusts to be set up by a parent, grandparent, guardian or a court. For
Trustees
Special Needs Planning Just in Case
By Mary Browning on
Many parents, especially parents of young children, may be unsure at the time they are drafting their Wills if a child will qualify for government assistance in the future. The parents may be concerned that a child has a special need but may not know the extent when that child is young. Therefore, parents are…
A Letter of Intent Should be Prepared by Every Parent of a Child with Special Needs
By Mary Browning on
A letter of intent provides the caregivers of a child with special needs a roadmap for taking care of that child. A letter of intent gives the parent a forum to communicate his or her wishes and concerns regarding a child as well as to set forth important information that will ease the transition of…
Child Support and Children with Special Needs
By Mary Browning on
One issue often overlooked by divorce attorneys as well as their clients is the payment of child support when the couple has a child with special needs. Child support, although paid directly to a spouse, is considered to be an asset of the child for purposes of determining eligibility for means-tested governmental programs. To avoid…
First Party Special Needs Trusts Should be Reviewed in Light of a Recent New Jersey Court Ruling
By Mary Browning on
A New Jersey appeals court upheld Medicaid’s denial of benefits after finding that the First Party Special Needs Trust for the benefit of the applicant did not shelter the applicant’s assets.
Medicaid determined, and the court agreed, that a First Party Special Needs Trust will not shelter an applicant’s assets unless and until the Social…