A special needs trust (also referred to as a supplemental needs trust) enables assets to be left to a disabled or chronically ill individual without disqualifying them from certain public benefits such as Medicaid. For the special needs planning community, the passage of the SECURE Act 2.0 offers the advantage…
In 2023, Americans with disabilities will receive a significant raise in their Supplemental Security Income (SSI) and in other Social Security benefits. According to the Social Security Administration, monthly SSI payments are going up 8.7% – an average increase of more than $140 per month beginning this January. This cost-of-living adjustment (COLA) increase…
It’s not surprising that people are often confused by the terms “guardianship” and “conservatorship.” Usage of these terms varies from state to state, and multiple levels can apply in either case. We hope this quick overview will help set the record straight about when and how these terms apply according…
Asking someone to be a trustee of your trust shows you have a lot of faith in that person’s capabilities and ethics. But how much is their time worth? Serving as a trustee can be a big responsibility, and can also be quite time consuming. And while family members and…
For those who are new to the game, ABLE accounts are tax-free savings accounts for individuals with qualifying disabilities that began before age 26. Created in 2014 as the ABLE Act, there are now over 20 ABLE programs to choose from, including Connecticut, which has its own ABLE plan! How…
In 2022, Americans with disabilities will receive a significant increase in their Supplemental Security Income (SSI) and in other Social Security benefits. According to the Social Security Administration, monthly SSI payments are going up 5.9%, a change that started as of December 30, 2021 for SSI payments and Social Security…
There are many ways a trustee of a special needs trust could cause harm to a beneficiary, however unintentionally. This is why many people choose to have a disability planning attorney take on this critical role. Here are 10 things to consider when deciding who should administer a special needs…
If you use a wheelchair, there’s a lot to do in Connecticut, especially during our way-too-short summer. Whether you love the beach or the woods, there are many great venues to sample. We did some research and selected some special places for you to check out. Take a Hike Rails-to-Trails…
If you’re coping with a disability, either your own or a family member’s, a little help goes a long way. The little-known PLAN of Connecticut Charitable Trust is available to pay for a wide range of products and services that could significantly improve your quality of life. The Charitable Trust…
The Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) disability programs are the largest of several Federal programs that provide assistance to people with disabilities. While these two programs are different in many ways, both are administered by the Social Security Administration and only individuals who have a…