A special needs trust may be an appropriate planning tool for a client who has a disability and has been awarded money...
Trusts and Asset Management
What is the Difference Between a Special Needs Trust and an ABLE Account?
Special needs trusts and ABLE accounts are both financial vehicles that are specifically designed to help individuals...
What Are the Special Needs Trust Distribution Guidelines?
Clients often ask us about the distribution guidelines of a special needs trust. Clients who will benefit from a...
How Can Attorneys Protect Clients with Annuities from Factoring Companies?
Past settlement recipients who elected to receive all or a portion of their settlement funds via a structured...
How to Choose a Trustee for a Settlement Protection Trust or a Special Needs Trust?
When a client receives a settlement, they often need a trust to protect the money. It could be a settlement protection trust or a special needs trust, depending on the client’s situation. Attorneys often ask us who should be the trustee of the client’s trust. Option 1: Assigning a Professional Trustee The first option is a professional...
When to Recommend a Special Needs Trust for a Settling Client
A special needs trust may be an appropriate planning tool for a client who has a disability and has been awarded money from a lawsuit— and the client wishes to maintain eligibility for government benefits like Medicaid and SSI. This article discusses situations when a special needs trust may be appropriate for a settlement recipient. When is a...
What is the Difference Between a Special Needs Trust and an ABLE Account?
Special needs trusts and ABLE accounts are both financial vehicles that are specifically designed to help individuals with special needs. They both offer similar benefits, but they have different purposes and eligibility requirements. This article provides an overview of the key differences between a special needs trust and an ABLE account....
What Are the Special Needs Trust Distribution Guidelines?
Clients often ask us about the distribution guidelines of a special needs trust. Clients who will benefit from a special needs trust are most likely receiving needs-based government benefits like SSI and Medicaid, so it is a good idea for them to understand the items that special needs can pay for. Due to the vast number of items that special...
How Can Attorneys Protect Clients with Annuities from Factoring Companies?
Past settlement recipients who elected to receive all or a portion of their settlement funds via a structured settlement annuity might be tempted to sell their annuity payments to factoring companies (more commonly known as “cash now” companies). These companies often purchase annuity payments for pennies on the dollar, leaving your past...
Who Qualifies for a Special Needs Trust?
Personal injury attorneys frequently call our office and ask who qualifies for a special needs trust. There are 3 requirements for an individual to be eligible for a special needs trust: The client must be 64 years old or younger.The client must be deemed disabled by the Social Security Administration. The client should be receiving either...
Setting Up a Settlement Trust for a Competent Adult
In most competent adult settlement situations, it is common for attorneys to feel that competent adults can make decisions for themselves, so they settle a case, give the client the money, and hope for the best. In some cases, clients are savvy enough to find a financial advisor or do their own investing and make wise financial...
Considerations Before Terminating a Special Needs Trust
If you set up a special needs trust for a disabled minor who is receiving Medicaid and SSI, what happens to the money inside the special needs trust if that minor gets to the point where he/she is well enough to work and generate income, and therefore lose his/her eligibility for SSI? Can you terminate the special needs trust and send...
The Mechanics of Setting Up a Settlement Trust
Here at Amicus Settlement Planners, settlement trust is a topic that we often get asked about. People usually want to know: "What are the mechanics of setting up a settlement trust, and how do we actually go about doing it? Does the defendant have to pay directly to the trust, or can it come through our IOLTA account?” This article explains...
How to Allocate a Plaintiff’s Settlement
Many people often ask us, "What do you mean when you say settlement planning?" Basically, settlement planning is the process of deciding how to allocate a plaintiff's settlement. The 4-bucket approach to settlement proceeds planning involves allocating the funds between four different financial “buckets” — and figuring out how much of the...
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