When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26. The post A Special Option for Special Kids appeared first on Nirenstein, Horowitz & Associates P.C..
A special needs planning lawyer can provide you with assistance if you have a child with disabilities and you want to ensure you can provide financially for that child even after you are gone. When your child is disabled, you may not be able to plan on leaving money directly to your son or daughter. [ ] The post Who Should Manage An Inheritance For Your Special Needs Child? appeared first on Nirenstein, Horowitz & Associates P.C..
Estate planning lawyers at Nirenstein, Horowitz & Associates help clients with estates of all sizes. Estate planning is not only important for people with lots of wealth, so we help people with a wide array of different net worths to make estate plans that make sense for their situation. While you need an estate plan [ ] The post What Special Legal Issues Do You Face with a Large Estate? appeared first on Nirenstein, Horowitz & Associates P.C..
A special needs attorney is needed when you are the parent or guardian of a child who has a serious disability and you need to make plans for what will happen to the child after you are no longer able to provide care. However, this is not the only example of a situation where you [ ] The post In What Situations is a Special Needs Attorney Needed? appeared first on Nirenstein, Horowitz & Associates P.C..
Parents of a child with special needs are going to have to take additional estate planning steps in most circumstances, and a Glastonbury special needs attorney can help. If you child has a disability, you want to ensure that your son or daughter is always going to be cared for – especially if the condition [ ] The post 3 Steps Parents of a Special Needs Child Should Take appeared first on Nirenstein, Horowitz & Associates P.C..
A special needs trust can provide important protections for someone who is disabled and who needs to qualify for Medicaid benefits. Special needs trusts can be used to protect assets owned or acquired by someone with disabilities. However, there are specific rules that must be followed for trust creation. Nirenstein, Horowitz & Associates can provide [ ] The post What are the Differences in First Party vs. Third Party Special Needs Trusts? appeared first on Nirenstein, Horowitz & Associates P.C..
There is a veritable alphabet soup used in the field of estate planning when it comes to acronyms. Some of these acronyms look very similar, and they may be used to represent programs and legal devices that accomplish similar aims, so there can be a lot of confusion. With this in mind, let’s look at the distinctions between SSDI and SSI. SSDI When you are working and paying taxes, one of the taxes that you pay is the FICA payroll tax. Some people scratch their heads when they see a significant chunk of their income going toward this tax. It can be frustrating to see that money go out the window. However, you can take heart, because it is going to benefit you in the long run if you are fortunate enough to reach the typical age of retirement. When you pay FICA taxes you are earning retirement credits, and you can accumulate up to four per year. When you have at least 40 retirement credits, you will qualify for Medicare coverage when you reach the age of 65. Medicare is a health insura