What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More
Help for People with Disabilities
Help for People with Disabilities Federal legislation adopted in 2015 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Generally a disabled person cannot have assets worth more than $2,000 without forfeiting eligibility for Read More
Guides for Managing Someone Else’s Money
Guides for Managing Someone Else’s Money — Millions of people have legal authority to manage money for a family member or a friend, and the number may grow with the aging of the population and the rising number of individuals with disabilities. The Consumer Financial Protection Bureau (CFPB) has developed a package of easy-to-understand booklets to Read More
New HHS Website for Elders
New HHS Website for Elders More than 10,000 people turn 65 every day in the United States, and people are living longer, healthier lives. Healthy lifestyles, planning for retirement, and knowing your options for health care and long-term care are more important than ever before. As part of the 2015 White House Conference on Aging, Read More
Best Time to Take Social Security Benefits
Best Time to Take Social Security Benefits Is 70 the new 65 when it comes to retirement? Yes, according to a recent paper from the Center for Retirement Research at Boston College. Alicia Munnell wrote: “Given that Social Security is a particularly valuable type of income — inflation-adjusted and lasts for a lifetime — it Read More