Disabled Military Protection Act Allows Military Families to include Special Needs Trusts within the Survivor Benefit Plan
Currently, under the Survivor Benefit Plan (SBP), a military retiree can set aside up to 55 percent of his monthly retirement pay to provide their family members with a monthly stipend, after he or she dies. However, these benefits are counted as income
Bill Introduced regarding special needs trust
H.R. 4329 -This bill or resolution was assigned to a congressional committee on March 29, 2012, which will consider it before possibly sending it on to the House or Senate as a whole. To amend title 10, United States Code, to provide for the payment of monthly annuities under the Survivor Benefit Plan to a supplemental or special needs trust established for the sole benefit of a disabled dependent child of a participant in the Survivor Benefit Plan.
Laura Shumaker: Financial planning 101 for special needs families
Families with children who have special needs or disabilities face even bigger hurdles than most people when it comes to planning for their financial futures. We actually prefer to bury our heads in the sand (at least my husband and I do) but we shouldn’t.
MetLife Center for Special Needs Planning
MetLife Center for Special Needs PlanningSM is dedicated to helping families secure both lifetime care and quality of life for their dependents with special needs. Our mission is to help families plan for the future of their dependents with special needs, including preserving government benefits and providing insurance and other financial solutions which can help provide lifetime quality care. The planning process begins with a complete review of your dependent's needs, future care plans, assessment of government benefit eligibility, and finally a review of your family's current financial and legal plans. Critical areas that must be addressed are: 1.Government benefit
Protected Tomorrows
Protected Tomorrows founder, Mary Anne Ehlert, CFP, had a successful career in financial planning when she decided to act on her lifelong desire to specialize in serving the families of the disabled. The source of her inspiration was very dear to her heart. Mary Anne herself had come from such a family. Her younger sister, Marcia, to whom she felt especially close, suffered severe mental handicaps due to cerebral palsy. And, although their parents were naturally determined that Marcia should get the best possible care, they had also for years been understandably confused how best to plan and provide for
The Importance of Special Needs Trusts
One of the most important move parents of children with special needs can make is to set up a special-needs trust, also known as a supplemental-needs trust. This is crucial, financial planners say, because a child can be denied significant Medicaid and Social Security benefits if more than $2,000 of assets are in his or her name, excluding a residence, car and basic personal items. Proper planning is key for funding for special-needs trusts for children with special needs. Funding for the trusts typically comes mainly from the parents' life insurance. Money can also be placed in a special-needs trust
