The Pollock Firm LLC

Special Needs Trust as Beneficiary of an IRA

February 10, 2020February 18, 2021Special Needs Planning

New Law Could Require Changes To Your Special Needs Trust Plan

The new law specifically allows retirement money that is paid to a Special Needs Trust for a disabled person to be paid out over the lifetime of the disabled person. Whereas, retirement money paid to most adults that is not disabled must be withdrawn over ten years. Accordingly, it may actually be MORE tax efficient now to name a Special Needs Trust as beneficiary of an IRA.

May 30, 2018February 22, 2021Income Tax, IRA Stretch Trust, Special Needs Planning, Special Needs Trust, Third Party Special Needs Trust

Reasons to set up a Third Party Supplemental Needs Trust as an Accumulation IRA Stretch Trust

In a previous post, I described the Reasons to Set up a 3rd Party Supplemental Needs Trust as an Irrevocable Life Insurance Trust. […]

March 21, 2018February 22, 2021Estate Administration, First Party Special Needs Trust, Self Settled Special Needs Trust, Special Needs Planning, Special Needs Trust, Supplemental Needs Trust, Third Party Special Needs Trust, Trust Planning

Reasons to set up a 3rd Party Supplemental Needs Trust as an Irrevocable Life Insurance Trust

Recently, I wrote a post explaining the differences between a First Party Special Needs Trust and a Third Party Supplemental Needs Trust. As […]

October 3, 2017February 25, 2021Special Needs Planning, Trusts

NJ Special Needs Trusts: Can the Trustee Buy Clothing?

Although the federal government clearly changed the rules in 2005 to allow a Trustee of a First Party Special Needs Trust to […]

December 17, 2013March 5, 2021Estate Administration, Estate Planning, Guardianship, Special Needs Planning

Right to Name Guardian for Minor Children When Parents are Separated or Divorced

I was discussing the affect of a divorcee naming a guardian for minor children in a Will with a few colleagues the other […]

August 20, 2010March 16, 2021Medicaid, Pooled Trusts, Self Settled Special Needs Trust, Social Security, Special Needs Planning, Supplemental Security Income

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 […]