Posts Tagged ‘Fields and Dennis’
Special Needs Trusts: The Basics
The basic definition of a special needs trust or supplemental benefits trust is any trust intended to provide benefits without causing the beneficiary to lose public benefits that they may be able to receive. Most commonly special needs trusts are intended to protect the public benefits of Supplemental Security Income and Medicaid. However, these trust…
Read MoreHomestead Act Revised: Bill 2406
Governor Deval Patrick received a revised Homestead Act, Senate Bill 2406, in the beginning of December, which would act to automate homestead exemption of $125,000 for every homeowner in Massachusetts.
Read MoreThe Estate Tax Conundrum
The Boston Globe recently reported that tax cuts remnant from the Bush administration imposed no estate taxes in 2010.
Read MoreThe Trust-Trustee Relationship
It’s not uncommon for minors who own trusts to disagree with the measures co-trustees approve on their behalf.
Read MoreAbout Special Needs Trusts
There are a few ways to fund a special needs trust. The trust can be funded through a will, or any type of donation or gift made directly to the trust. Or the trust can be funded with life insurance policies. In this case, upon the death of one or both parents, the insurance policy pay-out would directly fund the trust for the benefit of the disabled person.
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