Sentences with phrase «special needs beneficiaries»

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

The age restriction may be waived for special needs beneficiaries.

The exception to this rule is if the beneficiary qualifies as a special needs beneficiary.

The savings account's beneficiary must be at least age 18 (or is a special needs beneficiary) to withdraw Coverdell funds, and must withdraw the funds before age 30 or the funds will be distributed and taxed.

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 Beneficiary.

A Special Needs Beneficiary is an individual who, because of a physical, mental or emotional condition (including a learning disability), requires additional time to complete his or her education.

Contributions can not be made after a child turns 18 (except in the case of a Special Needs Beneficiary).

This age limitation doesn't apply if the new beneficiary is a special needs beneficiary.

Contributions: Beneficiary must be under age 18 unless a special needs beneficiary.

Distributions: Must be completed by the time the beneficiary reaches age 30, unless a special needs beneficiary

Yes, but only to another member of the current beneficiary's family under the age of 30, or a special needs beneficiary of any age.

Qualified higher education expenses also include certain additional enrollment and attendant costs of a beneficiary who is a special needs beneficiary in connection with the beneficiary's enrollment or attendance at an eligible institution.

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.

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.

Account must be used by the time the beneficiary is 30 years old (unless special needs).

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.

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.

The only exception to the age limit is if the beneficiary has special needs.

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.

Special needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public beSpecial needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public bespecial needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public benefits.

Special needs or pre-Medicaid estate planning is a complex area of estate planning because beneficiaries may be disqualified from public benefits due to improper planning around an estate distribution.

In most cases, the beneficiary must be under 18; however, those with special needs may also qualify.

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.

Sometimes, the Personal Representative will have a hard decision to make: follow the black letter of the Last Will and Testament regarding the special needs of some assets versus other assets, in order to protect the overall value of the estate and, ultimately, the inheritance of the beneficiaries and the debts owed to creditors.

In other matters, we have also set up special needs trusts to assist our wrongful death beneficiaries.

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.

Filed Under: Life Insurance 101 Tagged With: designating a guardian, life insurance beneficiary, living trust, minor child as beneficiary, setting up a trust, single parents, special needs children and life insurance, testamentary trust, two parent family, Uniform Transfer to Minors Act, UTMA

If you have a lifelong dependent, such as a child with special needs, it would be wise not to list them as a beneficiary.

Instead, set up a special needs trust and name the trust as the beneficiary.

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.

Because life insurance proceeds would be included in your child's assets if you named them the beneficiary, naming a special needs trust instead can protect your child's government benefit eligibility.

As I mentioned earlier, purchasing life insurance and naming a special needs trust as the beneficiary can be an ideal way to ensure your child will be financially supported even after you're gone.

That plan is buying life insurance with a special needs trust listed as the beneficiary.

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.

Special needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public beSpecial needs or pre-Medicaid estate planning may be accomplished by making an irrevocable special needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public bespecial needs trust the beneficiary of a life insurance policy, thereby providing necessary support to a dependent beneficiary without disqualifying them from public benefits.

Special needs or pre-Medicaid estate planning is a complex area of estate planning because beneficiaries may be disqualified from public benefits due to improper planning around an estate distribution.

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.