Able Account vs. 529 Account: Comparing and Contrasting
When it comes to securing your financial future, choosing the right savings account can make a big difference. For families with educational needs or disability-related expenses, ABLE and 529 accounts each provide unique advantages. These accounts offer flexible planning and tax benefits, making it easier to set aside funds tailored to your...
Creating a Special Needs Trust: Legal Steps and Considerations
Creating a Special Needs Trust can be an important step in securing a stable financial future for a loved one with special needs. It provides a way to ensure their well-being and care without risking their eligibility for essential government benefits. This type of trust balances long-term support with necessary legal requirements...
Understanding Texas Special Needs Trusts
Like many other states, Texas allows people to create special needs trusts that can provide financial help for people with disabilities. There are strict rules on how to set up a special needs trust and limitations on how the trust assets can be used. If these rules get violated, innocently or otherwise,...
What Can a Special Needs Trust be Used For?
How Do You Fund a Special Needs Trust?
A Special Needs Trust refers to an estate planning tool that allows you to provide for a loved one who has special needs. With a Special Needs Trust, you can protect assets so that the person can qualify for important government benefits, such as SSI and Medicaid. However, to fund a Special Needs...