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Life Insurance Policies and Special Needs Children

Posted by Susan Katzen | May 19, 2022 | 0 Comments

There are two main ways to use life insurance if a special needs child is in your family. In one situation, parents may consider purchasing life insurance for their child's life, addressing the possibility of outliving them. Alternatively, parents may use a life insurance policy in a trust as part of their estate planning; knowing their child with special needs is an enormous priority to safeguard after they have died.

ABLE Accounts and Special Needs Trusts

Posted by Susan Katzen | May 06, 2022 | 0 Comments

People who have loved ones with disabilities and need a way to save money tax-free often create a special needs trust (SNT) to supplement their loved one’s unique requirements and quality of life while continuing their eligibility for public assistance programs. In 2014, the ABLE Act (Achieving a Better Life Experience) became a second financial vehicle permitting a disabled individual to accumulate resources with tax advantages but not jeopardize key federally funded benefit programs like Medicaid and Supplemental Security Income (SSI) or Social Security Disability Income (SSDI).

Estate Planning Tips for Parents with Children of Special Needs

Posted by Susan Katzen | May 06, 2022 | 0 Comments

Children with a wide variety of special needs (disabilities) can live more productive lives than ever before with today's medicine and health care advancements. Many scientists regard the term special needs as a euphemism for disability. Yet, the difference between the two terms is primarily one of acceptance and preference as both terms describe the four major types of disability: physical, developmental, sensory impaired, and behavioral/emotional.

Writing a Letter of Intent For Your Special Needs Child

Posted by Susan Katzen | Apr 28, 2022 | 0 Comments

Writing a letter of intent (LOI) for your special needs child can help bring them family continuity and comfort after you are gone. As a parent, the most valuable asset your child has is you and your ability to care for them. You, like no other, fully understand the nuances of your child’s coping mechanisms and what can trigger adverse outcomes.

Special Needs Planning and Your Estate

Posted by Susan Katzen | Apr 21, 2022 | 0 Comments

Third-party special needs trusts sometimes referred to as supplemental needs trusts, are estate planning tools for those parents of children with mental/physical disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability.

Understanding Special Needs Planning

Posted by Susan Katzen | Apr 18, 2022 | 0 Comments

Let’s take a look at planning for disabled people to live their best lives. Family money can be carefully managed to fit the disability-benefit rules and still provide additional perks for the disabled person to enjoy. And, though the rules can be strict, disabled people are still permitted autonomy to own some money for their personal use and yet retain their valuable benefits.

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The Law Office of Susan A. Katzen is committed to answering your questions about Estate Planning, Special Needs Planning, Settlement Planning, Trust Administration, Probate, and Conservatorships issues in Newport Beach, California.

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