Courtesy ofBelvedere Wealth Partners
For people with disabilities who have limited income, the pandemic also had a particularly devastating impact on their public benefits. Thanks to a recent landmark settlement following a class action lawsuit, these individuals may now begin to find some level of relief.
Qualifying people with disabilities can accumulate savings in a tax-free ABLE account without risking their means-tested public benefits. In 2024, the annual limit on how much money one can deposit into these accounts will rise to $18,000 per year.
Researchers at Boston University have published a study comparing the enrollment patterns, costs, and usage of Medicaid enrollees who have Down syndrome with that of enrollees who have an intellectual disability and those with no developmental disabilities.
Special needs trusts (SNTs) can play an important role in helping families plan for children with special needs. Here are some of the most compelling reasons to speak with your attorney about establishing an SNT.
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