Basis

NJ Estate Tax Repeal: How Does This Affect You?

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NJ Tax Repeal How Does This Affect you

It’s official.  According to NJ.com, Governor Christopher Christie has signed a bill to repeal the New Jersey Estate Tax.  The new law is part of a larger package deal that increases the gas tax, reduces the sales tax slightly, gives the working poor a larger tax credit, gives a tax cut on retirement income and gives a tax […]

Medicaid

Termination Clause in Special Needs Trust

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Termination Clause in Special Needs Trust

The Social Security Administration has issued new rules, SI 01120.199, related to the early termination of Self Settled Special Needs Trusts created on or after January 1, 2000. Self Settled Special Needs Trusts, also known as First Party Special Needs Trusts established under Section 1917(d)(4)(A) of the Social Security Act. are designed to avoid being […]

Medicaid

What is a Self Settled Special Needs Trust?

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What is a Self Settled Special Needs Trust?

There are generally two types of private special needs trusts: Third Party Special Needs Trusts; and Self Settled Special Needs Trusts (also known as First Party Special Needs Trusts or D-4A Trusts). A person who is receiving (or about to receive) Medicaid and Supplemental Security Income (SSI) may wish to consider establishing a Special Needs […]