Special Needs News is an e-newsletter that brings you reports of legal developments and other trends of vital interest to those with special needs and their advocates. This newsletter is brought to you by Rebecca Miller and the other members of the Special Needs Planning Practice Group Chambliss Law Firm.
Chambliss Law Firm Monthly Editorial
ABLE Account or Special Needs Trust – Which One Is Best?
by Rebecca Miller
Saving money for a loved one with a disability can be challenging because of the $2,000 resource limit for eligibility for means-tested governmental benefits like Supplemental Security Income (SSI) and Medicaid. In the past, a special needs trust, sometimes called a supplemental needs trust ("SNT") was the most common way to save money without jeopardizing benefits. The passage of the Achieving a Better Life Experience Act (ABLE) in 2014 created another option for saving – the ABLE account. [Click to read the full story.]
Major changes to the “kiddie tax” could significantly increase the tax liability of assets placed in special needs trusts if the trust’s beneficiary is a minor and the income the trust earns is high enough. Read more
A new Social Security Administration proposal would make it more difficult for people who don’t speak English to qualify for disability benefits, potentially reducing the disability rolls by more than 10,000 people. Read more
Three different lawsuits filed in southern California in the past few months allege that popular new urban mobility devices are a danger to people with disabilities. Read more