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Clarifying the Importance of “Special Needs Trusts”
In a recent post on the San Diego Union Tribune website (click here to read), Certified Financial Planner® and personal finance columnist Liz Weston clarifies a misunderstanding about Social Security Disability benefits for the developmentally disabled, and provides an explanation of how Special Needs Trusts factor into effective estate planning for families having these circumstances. Her post also addresses several important Social Security issues, including IRAs for young people, community property issues, and the importance of obtaining updated Social Security advice. On this latter point, we’d like to remind readers that the AMAC Foundation operates a free Social Security Advisory Service featuring trained and accredited advisors available to help folks interpret how the myriad rules and regulations fit individual circumstances. The AMAC Foundation is a 501(c)(3) public benefit corporation, and there is no charge for this counseling service.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.