A Special Option for Special Kids
Parents of special needs children in many cases will establish a Special Needs Trust, in an effort to shield any assets the children may inherit from disqualifying the children from public benefits. Another notable tool is an ABLE account, which is a savings account that benefits individuals with disabilities. A donor in 2018 may now contribute up to $15,000 annually to the account. Funds from the account can be used for a comprehensive list of expenses, while preserving the beneficiary’s financial eligibility for certain government benefits.
Leave a comment