As a financial tool designed to help individuals with disabilities save money without jeopardizing their eligibility for crucial government benefits, ABLE (Achieving a Better Life Experience) accounts have become increasingly popular. One key aspect of these accounts is the concept of Qualified Disability Expenses (QDEs). In this blog post, we'll explore what...
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Five Tips for Discussing Diminishing Capacity with a Loved One
As an elder law attorney, I've guided many families through the challenging process of addressing a loved one's diminishing mental capacity. Here are five essential tips to help you navigate this sensitive conversation:
1. Start Early
Begin discussions about future care and decision-making while your loved...
Navigating the Impact: Working on SSI Benefits
Introduction:
Working while receiving Supplemental Security Income (SSI) benefits can be a challenging balancing act. On one hand, it offers individuals the opportunity to earn additional income and gain a sense of independence. On the other hand, it comes with a set of regulations and considerations that can significantly...
Navigating Financial Options for Individuals with Disabilities: A Comparison of ABLE Accounts and First-Party Special Needs Trusts
In the realm of financial planning for individuals with disabilities, there are various tools available to help manage assets and secure a stable future. Among these tools, ABLE accounts and First-Party Special Needs Trusts (SNTs) stand out as prominent options. Both serve distinct purposes and offer unique benefits tailored to the specific...
Should an Agent Under Durable Power of Attorney Have the Power to Change Account Beneficiaries?
A Durable Power of Attorney (DPOA) is a powerful legal tool that allows you to designate someone to act on your behalf in financial and legal matters if you become incapacitated. One crucial decision to consider when creating a DPOA is whether to grant your agent the authority to change beneficiary designations...
What is ISM?
ISM is an acronym used by the Social Security Administration which refers to "In Kind Support Maintenance", which can reduce the amount of a recipient's SSI.
Currently, the SSA considers any in-kind support and maintenance provided to an SSI recipient, such as free or reduced-cost food and housing, as...
Undue influence: what is it and what to watch out for?
Undue Influence is when someone pressures another in such a way that the person being influenced is not acting by their own free will; they are being coerced into taking a certain action. Undue influence often arises when a friend family member falls ill. For example, mom has been diagnosed with cancer...
Divorce and Social Security Benefits
Did you know that your ex-spouse can be entitled to social security benefits based on your work record?Here is a quote from the social security website: "If you are divorced, your ex-spouse can receive benefits based on your record (even if you have remarried) if:
Your marriage lasted 10...Trustee of Special Needs Trust?
What Are a Special Needs Trustee’s Record-Keeping Duties?
One of the most important roles in a special needs plan is that of trustee, the person who administers a special needs trust (SNT). Of a trustee’s many responsibilities, record-keeping is perhaps the most crucial. Because the trustee...
2021 Utah Home Equity Limits for Medicaid: How much is too much for qualification?
http://www.kathierobertslaw.com/blog
The 2021 Utah Medicaid equity limit for a home is $603,000.00. This means that if you have a home with equity greater than this amount, you may not qualify for Medicaid. However, there are exceptions to this rule:
Exceptions to the equity cap...