To Your Better Future

When your child turns 18, it's a moment of pride and transition. They're stepping into adulthood, gaining independence, and making decisions for themselves. But as exciting as this milestone is, it’s easy to overlook one critical detail: the change in legal authority over their healthcare decisions. Many of us with children who have special needs are familiar with the importance of establishing guardianship. However, when it comes to our typical, newly turned 18-year-olds, we often forget to consider an equally important step — ensuring they have a healthcare proxy in place. Why is a Health Care Proxy Important? Once your child turns 18, they are legally recognized as an adult, meaning you no longer have the automatic right to make medical decisions for them, even in emergencies. While they may still rely on you for emotional support, financial advice, and countless other things, if they are unable to make decisions due to illness or injury, healthcare professionals canno...

As parents, navigating the transition to adulthood for a child with disabilities can be overwhelming, especially when it comes to legal responsibilities. When your child turns 18, they are legally considered an adult, which often comes as a surprise to many parents. This shift can create significant challenges, particularly in making medical and educational decisions. Here’s why securing guardianship is crucial for parents of disabled children as they reach adulthood. Understanding Legal Capacity Once a child turns 18, they are presumed to have the legal capacity to make their own decisions, regardless of their cognitive abilities. This means that if your child has an intellectual disability, they may not be able to provide informed consent for medical treatments or make important life choices. In such cases, having a legal guardian is essential to ensure that decisions can be made on their behalf. Does My Child Need a Guardian? Deciding whether to become your child’s legal guardian ...

The Achieving a Better Life Experience (ABLE) Act, signed into law in 2014, created a powerful savings tool for individuals with disabilities. ABLE accounts allow people with disabilities to save money without losing access to essential government benefits like SSI and Medicaid. Whether for daily expenses or future needs, these accounts can play a crucial role in achieving financial independence. In this blog I’ll explain what ABLE accounts are, how they work, and why they matter. What is an ABLE Account and Why do You need it? An ABLE account is a tax-advantaged savings account designed specifically for individuals with disabilities and their families. Many individuals with disabilities rely on public benefits such as SSI (Supplemental Security Income) and Medicaid to meet their basic needs. These programs, however, impose strict asset limits—typically no more than $2,000 in savings—which forces individuals to stay impoverished to retain their benefits. An ABLE allows you to save ...

Have you ever wondered what would happen to your assets, loved ones, or financial future if something unexpected occurred? Whether you’re preparing for retirement, leaving a legacy for your family, or simply ensuring peace of mind, understanding the difference between estate planning and financial planning is crucial. These two strategies are often confused, but they each play a distinct role in shaping your financial future.   Estate Planning vs. Financial Planning: A Breakdown Estate planning is the process of determining how your assets will be managed and distributed both in the event of incapacity and after you're gone. Each person's goals shape the type of estate plan they need. For some, estate planning may be as simple as a will to ensure assets are passed to loved ones, while others may require a revocable living trust-centered plan to avoid probate and save on taxes, or even more complex strategies like dynasty trusts to provide for future generations. Estate pl...

Relocating to a new state is exciting—new surroundings, new opportunities—but amidst the hustle and bustle, have you considered how the move might affect your estate planning documents? Technically, your will, trust, and power of attorney are still valid. The U.S. Constitution requires states to honor legal documents from other states. But here’s the catch: while they should be accepted, the practical reality isn’t always so straightforward. Estate planning isn’t just about having the right documents; it’s about ensuring they work when you need them most. And that’s where moving to a new state can complicate things. Different states have different rules, and sometimes institutions can be picky about the forms they accept. So, while your documents might not need a complete overhaul, getting them reviewed by a local estate planning attorney is a smart move. Is My Will Still Valid? What About My Revocable Trust? Your will is still valid, but state laws vary, and some provisions might not ...

As a parent of a disabled child approaching adulthood, you may be wondering how child support payments will affect their Supplemental Security Income (SSI). The simple answer is "yes"—child support does reduce your child’s SSI benefits. Here's how it works: Child support payments ordered by a court are considered income for the child under the SSI program, even if the payments go directly to the other parent. While your child is under 22 and still attending school, one-third of the child support payments are excluded from SSI calculations, meaning two-thirds are counted as income. However, once your child turns 22, the entire child support payment is counted dollar for dollar, reducing their SSI benefit. Are There Ways to Receive Child Support Without Affecting SSI? Thankfully, there are strategies to receive child support without negatively impacting your child’s SSI benefits. Here are some options: 1. Assign Child Support to a Special Needs Trust      You can assig...

Estate planning can feel overwhelming, especially with changing tax laws. One tool that's gaining popularity among high-net-worth couples is the Spousal Lifetime Access Trust (SLAT). If you're looking to preserve your wealth and minimize estate taxes, understanding SLATs is crucial. Here’s a breakdown of what they are, how they work, and why you should consider setting one up before January 1, 2026. What's a SLAT? A SLAT is an irrevocable trust that one spouse creates for the benefit of the other. The goal? To transfer assets out of your estate while still providing financial security for your spouse. This strategy can help you use the current high federal estate tax exemption before it potentially drops. Current and Future Tax Exemptions Right now, each person can transfer up to $13.61 million without incurring federal estate taxes. For married couples, that means you can shield up to $27.22 million. But here's the kicker: On January 1, 2026, this exemption is ...