Special-Needs Trusts: How They Work and What Has Changed

In a recent Wallstreet Journal article, Glenn Ruffenach addresses several questions involving the use of special needs trusts.  He discusses the heightened need for planning for individuals with disabilities and chronic illnesses due to increased longevity and costs of care. The article also addresses concerns that recent changes in tax laws, particularly those governing inherited retirement accounts, require families to review their existing financial plans as they apply to children and other beneficiaries with special needs.

You can read the article at https://www.wsj.com/articles/special-needs-trusts-how-they-work-and-what-has-changed-11622743200

If you have questions or concerns about the inclusion of a special needs trust in your plan or whether an existing trust complies with applicable tax laws concerning inherited IRAs or other retirement plans, contact us and schedule a time to discuss your concerns with one of our attorneys.