A supplemental or special needs trust may help provide financial assistance for a disabled child.Government guidelines specify that if the child accumulates over $2,000 in assets, he or she could lose valuable government benefits.To help families provide financial assistance for disabled children without jeopardizing SSI or Medicaid benefits, Congress authorized the use of an irrevocable, supplemental or special needs trust.
Estate settlement should be as straightforward and non-disruptive as possible for your family.
Proper planning can make estate settlement a smooth process for all concerned by ensuring that all legal and tax requirements are met.
Having a current will in place is a critical first step and will ensure that your wishes are carried out as you intend.
After a lifetime of accomplishment, wealthy individuals often want their legacies to reflect not only what they did, but who they were.An irrevocable trust is an important financial planning tool for minimizing estate taxes.It also offers a unique ability to transfer to succeeding generations the values that guided the trust’s creator.Passing on personal values through irrevocable trusts may also involve a family’s philanthropic goals.