Disability Benefits

A New Decade, A New Year Update for 2020

A few legal updates for your consideration as we enter our new decade: Retirement The SECURE Act of 2019 makes important changes to retirement accounts. The age at which required distributions must be taken is increased from age 70 ½ to age 72 for persons who turn 70 1/2 after December 31, 2019. The Act [...]

May 2018 Question of The Month: Divorce, child support and special needs trusts

Question: My spouse and I have settled our divorce. Our special needs child, now age 14, will receive $2,100.00 per month of child support until she is age 21. She is developmentally disabled. She will need her to keep her current Medicaid and when she is age 18. Is there a solution to keep the [...]

The ABLE Act – A Positive Step to Securing a Disabled Person’s Future

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, benefits” otherwise available to qualified [...]

By |2017-08-30T21:42:40+00:00January 22nd, 2017|Disability Benefits|Comments Off on The ABLE Act – A Positive Step to Securing a Disabled Person’s Future

Military Benefits and Your Special Needs Child

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) as part of your Will [...]

By |2017-08-30T21:46:15+00:00January 3rd, 2017|Disability Benefits, Military Benefits|Comments Off on Military Benefits and Your Special Needs Child

ABLE Act Accounts Can Be Created Outside NY State

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. And, the use of the [...]

By |2017-08-30T21:48:48+00:00December 20th, 2016|Disability Benefits|Comments Off on ABLE Act Accounts Can Be Created Outside NY State