Lucy

Leaving an IRA to a special needs trust

Leaving an IRA to a Special Needs Trust Is No Longer Such a Bad Idea

The SECURE Act, passed at the end of 2019, changed a number of rules regarding inherited IRAs, making it more difficult for most beneficiaries to save on taxes by “stretching” distributions over many years. However, an exception to the new rules potentially changes advice that special needs planners often give clients, and leaving an IRA to …

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Four Questions to Help You Choose the Right Professional Trustee for Your Special Needs Trust

Parents or other family members establishing a special needs trust for their child often want to name a professional — usually a bank, trust company, attorney, certified public accountant or non-profit — as one of the trustees of the trust in order to take advantage of that individual’s experience with investments, money management and tax planning. …

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Passing Assets to Grandchildren Through a Generation-Skipping Trust

Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes and also providing for your children.   A generation-skipping trust allows you to “skip” over the generation directly below you and pass your assets …

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What Families Need to Know About Planning for a Loved One with Special Needs

Webinar attendees come to understand what is involved in the planning process for a special needs family and the importance of preserving your loved one’s financial security and quality of life. Presented by Elville and Associates’ Managing Principal and Lead Attorney Stephen R. Elville, this webinar is a broad reaching discussion about planning for their …

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Medicaid Asset Protection Planning — Single vs. Married

Elville and Associates’ Principal and Senior Elder Law Attorney Lindsay V.R. Moss offers this presentation regarding Medicaid Asset Protection Planning and the differences there are in planning for single and married individuals. Topics of discussion include: — how to protect assets — pre-crisis planning — crisis planning — promissory notes — Medicaid annuities — irrevocable …

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August Is ABLE to Save Month!

August is national ABLE to Save Month! We are celebrating the Maryland ABLE program during ABLE to Save Month, which makes it possible for Marylanders with disabilities to have greater independence and financial stability. A Maryland ABLE account can change the way people with disabilities and their families participate in the community, build financial wellness, …

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Understanding Alzheimer’s and Dementia

Understanding Alzheimer’s and Dementia: A discussion of the risk factors, stages of the disease, and current research will be provided by Ellen Perticone, Owner of Senior Placement Navigators, in collaboration with the Alzheimer’s Association. Topics to be discussed include: Understand the relationship between Alzheimer’s and dementia Find out how Alzheimer’s disease affects the brain Explore …

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