Sheri R. Abrams's Blog, page 6

Military Survivor Benefit Plans and Your Disabled Child

The Disabled Military Child Protection Act allows military families with special needs children to protect their children’s eligibility for public benefits while allowing them to participate in their Survivor Benefit Plan (SBP).

The military’s Survivor Benefit Plans permit monthly benefit stipends, up to 55% of the military member’s pension, to be paid for the benefit of a disabled child.

The Disabled Military Child Protection Act grants military members the authority to name a First Party Sp...

Disability Programs for Military Service Members

Disability Programs for Military Service Members

Every year, on Memorial Day, we honor service members who have given their lives or been wounded for our freedom

Both the U.S. Department of Veterans Affairs (VA) and the Social Security Administration (SSA) have disability programs.

Military service members and veterans may qualify for disability benefits through one of these programs but not the other, or they may qualify for both.

The Social Security Administration (SSA) offers benefits to v...

How to Use a Special Needs Trust to Protect an Inheritance for a Loved One Battling Bipolar Disorder

We are often asked by parents if it is possible to protect an inheritance for an adult child who battles Bipolar Disorder.  Unfortunately, one of the hallmarks of the disorder is excessive financial spending while in the mania phase of the disease.  Parents often worry that if they leave an inheritance outright to their adult child that it will be lost or squandered quickly and that mom or dad will no longer be around to help deal with the fallout of such spending.

Fortunately, there are lega...

The Difference Between Powers of Attorney and Guardianships

What is the difference between Powers of Attorney and Guardianships?

As we age, decision-making about money or health care can get harder as physical or mental conditions change.  If a person loses the capacity to make big decisions, powers of attorney or guardianships provide different ways to plan for making important choices on a person’s behalf.  Understanding the differences between them can help make sure a senior or disabled person and their property are well taken care of as they get...

Good News for Beneficiaries of Special Needs Trusts

Last year the Social Security Administration (SSA) specifically clarified that True Link Cards (make clickable to https://www.truelinkfinancial.com/ ) can be used to make disbursements from Special Needs Trusts (SNT) for beneficiaries who receive Supplemental Security Income (SSI).

As long as the correct card settings are in place according to the guidelines in SSA’s Program Operations Manual System (POMS), True Link Cards provided by a trustee to SNT beneficiaries are not countable as income...

Will My Social Security Disability Benefit Amount Increase If My Condition Worsens?

Social Security Disability is a government program that pays monthly benefits to individuals who become disabled and can no longer work.

In order to qualify, the individual must have a disability that is severe enough to prevent  them from working for a year or more, or result in death.  The claimant must have also accumulated enough work credits throughout his or her career, the amount of which will depend on his or her age at the time of disability.

It’s important to note that Social Securi...

What Happens to the Funds in a Special Needs Trust When the Beneficiary Dies?

What Happens to the Funds in a Special Needs Trust When the Beneficiary Dies?

A Special Needs Trust is a specialized legal tool that allows a beneficiary with disabilities to utilize property or money held in the trust for his or her benefit, without jeopardizing the ability to access essential needs-based public benefits such as Supplemental Security Income (SSI) and Medicaid.

Special care is often taken by parents or loved ones of those who have disabilities to set up  a Special Needs Trust...

How to Integrate Special Needs Planning into Your Family’s Over All Estate Plan

The heart of estate planning for most parents comes down to one thing – making decisions that they think will be best for their surviving children. Making these decisions can be especially challenging when one or more of the children has special needs. Not knowing how their child will fair after they are gone can be heart-wrenching.

The U.S. Census Bureau says that approximately 20% of Americans between the ages of 16 and 64 suffer from some type of physical, mental, or emotional impairment a...

5 Things You Need to Know When Your Child with Special Needs Turns 18

[image error]Without a Guardianship or the proper documents in place, the legal authority to make important decisions on behalf of your child with special needs can be severely limited once he or she becomes a legal adult. Here are 5 things you need to know to prepare for this moment and ultimately safeguard your child’s future:

1. Everything Changes Once Your Child Turns 18

Most of the decisions that are made regarding a child’s  wellbeing are made by a parent up until the age of 18 (the legal age of maj...

What Can a Virginia Special Needs Planning Lawyer Do for You & Your Family?

Special needs planning lawyers have very specialized knowledge to help families plan for their children’s future.  There are many factors to consider when raising your special needs child and focusing on what will happen after your death is usually not on the top of the list.  Still, it is very important to take the time to meet with a Virginia special needs planning lawyer to give your child the best opportunities.

Special Needs Trusts

Like estate planning, special needs planning often inclu...