Special Needs Trust Planning: Tips, Trends, and Takeaways

Special Guest, Melanie Marmion, Fitzwater Law

As a parent, caregiver, or professional supporting an individual experiencing disability, understanding the complex nuances of special needs trusts is critically important to the overall plan. In this webinar we were joined by guest speaker, Melanie Marmion, special needs trust planning expert and experienced national speaker for organizations like the Oregon Bar Association and Academy of Special Needs Planners!

We discussed the ins and outs of special needs trusts including the pro's and con's of different trust types, trust taxation, choosing a trustee, when to fund the trust, the best assets for a special needs trust, and much more!

Discussion Topics:

  • Most important SNT changes in the last decade.

  • Pros & cons of Living & Testamentary SNT’s.

  • Considerations for naming a trustee.

  • Best assets to leave in a SNT.

  • Basics of SNT taxation.

  • SNT reporting requirements.

  • SNT funding-- now or later?

  • Housing and SNT considerations.

  • Protecting vulnerable individuals using SNT’s.

  • Best special needs trust planning resources.

  • And more!

POOLED SPECIAL NEEDS TRUSTS: 10 IMPORTANT QUESTIONS TO ANSWER

You know that a special needs trust is a critical part of caring for a loved one experiencing disability, but where do you start once you've decided to implement this tool? What is a pooled trust and how is it different from a trust drafted by an attorney? What are some things to consider when choosing a trustee?

In this webinar we are joined by guest speaker, Cici Gaynor, the program manager of Oregon Special Needs Trust.

We discussed the importance of a special needs trust, trust options, how they function, and important things to consider as you start down the path of trust planning!

On the Agenda:

-What is the Oregon Special Needs Trust?

-Fees, set-up and trust administration of the OSNT

-Private versus pooled trusts

- What’s the difference?

-How to best use ABLE accounts and special needs trusts

-When should a family begin thinking about a special needs trust?

-Building a support team for a disabled loved one

-Family member or professional? Considerations when naming a trustee of a special needs trust

-And more!

The Important Task of Funding a Special Needs Trust

You know the importance of needs based benefits like SSI/SSDI, Medicare, and Medicaid in your loved one's life care plan.

But, what about a special needs trust? Government benefits may satisfy basic living requirements, but a special needs trust can help pay for things that create the kind of quality of life we all want to enjoy. Now, where do you start? How do you fund the trust? Are some assets better suited for the trust than others? When should you fund and how much is needed?

  • We answered some of the most important questions in preparation of drafting and funding a special needs trust for your loved one.

  • The Purpose of a Special Needs Trust in a life care plan

  • SSI/ Medicaid-- The importance of needs-based benefits

  • Special Needs Trusts 101

  • The confusing world of Trust Tax! Why understanding trust taxation matters when funding

  • What are the best assets to leave to an SNT? IRA’s, life insurance, real estate, etc.

  • The convergence of parents retirement planning and funding a child's SNT

  • Tip when deciding to fund a SNT now versus at parents passing.

  • Reminders when deciding upon funding an ABLE vs special needs trust

  • The important calculation-- How much do I need to leave to the trust?

  • And more!

What Every Special Needs Trustee Should Know to Reduce Stress, Live Longer, and Keep Everyone Happy

The legal complexities, risks and responsibilities of trusts can be daunting for experienced trustees to navigate. Therefore, it is not surprising that many non-professional trustees can find this new landscape overwhelming. In this webinar, we will discuss the tips to help non-professionals trustees understand their responsibilities and avoid typical pitfalls.

Topics Discussed:

-Trust and Trustee Basics
-Importance of having a trust
-Taxation of trusts and filing tax returns
-Limiting your liability
-How to build a support team and who should be involved
-How to track disbursements and properly document transactions
-How to review the trust document- each is drafted differently!

7 Insightful Tips When Purchasing or Leaving Real Estate to a Special Needs Trust

Real estate and homeownership is the top contributor to household wealth in the United States—almost 40% of an individual’s net worth! But, what happens to the family home when parents pass away? What should families be considering when buying a condo for our special needs child? Few families understand the complexities that arise when purchasing or leaving a real estate to a special needs child and their trust. In our monthly educational webinar, we’ll explore 7 of the most important considerations when thinking about purchasing or leaving real estate to support a child with a disability.

Topics Discussed:

• Properly funding a trust to support real estate ownership

• Rental properties—liability and cash flow considerations

• Special needs trust taxation

• Tips on real estate maintenance and upkeep

• Impact and Effect of Real Estate on government benefits

• How to Use an ABLE account effectively to support real estate endeavors

• And more!

The HEALS Act & Building a Support Team: Choosing a Trustee

One of the most important roles of a support plan is the trustee of a special needs trust. During this private client webinar, Jake Lingo, a professional trustee, will discuss some of the most important topics regarding hiring, planning around and being a trustee for a special needs trust. 
 

What we'll cover:

  • Considerations when deciding upon a professional or a family member trustee.

  • From the perspective of a professional trustee, what are the ongoing duties and obligations?

  • The importance of building a support team.

  • Proactive planning! What parents can do now to ensure a future plan is in place for a child.

  • Pros and cons of naming co-trustees.

  • Best practices to lead to successful outcomes as a trustee.

Proactive Planning For the Future Using ABLE Accounts and Special Needs Trusts

In partnership with Brad Franklin and 'Every Body Athletics', we're excited to present Proactive Planning for the Future Using ABLE Accounts and Special Needs Trusts. This webinar will provide in-depth information regarding the importance of ABLE Accounts and special needs trusts when it comes to your family's planning.

Special needs trusts are an important part in building the foundation of a successful special needs plan. Special needs trusts allow family members to leave money to a trust for the benefit of a disabled loved one without impacting their eligibility for needs based benefits. Cool concept, huh? Well in this webinar, we'll cover the important aspects to allow you to better plan for the future.
 

Passing of the ABLE Act legislation in 2014 was a monumental win for individuals with disabilities. Learn how ABLE Accounts can help people experiencing disability by allowing them to save for their future without losing eligibility for their needed government benefits. In addition, this has become an important planning tool for families as they build a support plan for their  child.

  • Learn the key differences between Special Needs Trusts and ABLE Accounts.

  • How to set up a special needs trust

  • What can the money from a Special Needs Trust be spent on?

  • Tax benefits of ABLE Accounts.

  • Who is the trustee, and what are their duties?

  • What are the investment options for an individual with an ABLE Accounts

  • Important considerations for leaving money to a SNT