Sentences with phrase «for special needs beneficiaries»

The age restriction may be waived for special needs beneficiaries.

Not exact matches

Authorized by federal law, a special needs trust is an irrevocable trust designed specifically to hold assets for a beneficiary so that the funds do not disqualify the recipient from needs - based government benefits.

If a minor or individual with special needs or other issues is the desired beneficiary, then a trust for the benefit of the minor or other individual must become the beneficiary, thereby avoiding any interaction with the court or subjecting the account to creditors, predators, ex-spouses or unnecessary spending.

Must be completed 30 days after beneficiary reaches age 30 (except for special needs children) or death.

Assets in the account must be distributed to the designated beneficiary by age 30, or transferred to another Coverdell ESA for the benefit of another eligible family member — except in the case of a Special Needs Bbeneficiary by age 30, or transferred to another Coverdell ESA for the benefit of another eligible family member — except in the case of a Special Needs BeneficiaryBeneficiary.

The beneficiary must be under age 18 or have special needs for the account to receive contributions.

Therefore, rather than making such a child a beneficiary, a better approach may be to establish a special needs trust for the child to serve as the beneficiary.

If your intended beneficiary is a long - term dependent, such as a family member with special needs, you will likely want to set up a trust for them as well, even if they're not a minor.

Expenses for special - needs services required by the beneficiary to enroll or attend an eligible educational institution.

And «special needs items» can be counted for as - yet undefined «special needs beneficiaries.»

It is important to remember that even with this extended range of family members, contributions can be made only for those under the age of 18, unless the beneficiary is a special needs beneficiary.

Most clients are not aware of Special Needs Trusts for incapacitated beneficiaries.

His practice includes planning for unique assets, international considerations, and beneficiaries with special needs.

If you have additional family members you'd like to provide for after you're gone, you can also name them as your primary beneficiaries, in addition to the special needs trust.

If your special needs child acquires assets as a beneficiary (including gifts and inheritances) of over $ 2,000 or more at any given time, he or she will no longer be eligible for Medicaid, and they will have to dispense with the gift or inheritance before they can reapply.

A special needs trust is a type of trust specifically designed for beneficiaries (of life insurance policies and wills) who are either mentally or physically disabled.

A properly drafted special needs trust can protect the beneficiary's eligibility for government benefits, while at the same time providing access to the assets held in the trust for his or her benefit.

This could be a good option for someone who is married or part of a couple and has estate planning needs, such as helping beneficiaries to pay estate taxes and / or helping a loved one with special needs.

The income option is beneficial for individuals who are seeking income replacement for beneficiaries, who wish for their beneficiaries to be more responsible financially, if your beneficiary has special needs or if you want to provide a long - term benefit to a charitable organization.

To protect the beneficiary's government benefits; however, the trust should not be set up to provide directly for basic shelter, food, or payment of cash to the special needs family member.

Therefore, rather than making such a child a beneficiary, a better approach may be to establish a special needs trust for the child to serve as the beneficiary.

If your intended beneficiary is a long - term dependent, such as a family member with special needs, you will likely want to set up a trust for them as well, even if they're not a minor.

A special needs trust is a trust designed to provide money to a disabled beneficiary without sacrificing their eligibility for government benefits like Social Security or Medicaid.

Examples of job duties for Recreation Coordinator are: developing and implementing recreational programs, coordinating recreational facilities, identifying community needs, organizing meetings with program beneficiaries, administering funding programs, modifying activities to suit the needs of special groups, enforcing safety rules, and administering first aid when needed.