Such an important thing to address. As a hospital nurse of 30 years it was unfortunately common to see staff scramble under stress to check DNR status.
First, thank you for your videos. Outstanding presentation and content! Question, if I set up a 3rd party SNT for the benefit of my nephew who is 25 years old and receiving SSI, and I only put in $10 to seed the trust, does SSI have to be advised of the trust? Or, only after the trust receives actual funding? Thank you again!
It’s my pleasure. 😊 When SSA sends a redetermination letter, you’re supposed to disclose the existence of the trust. SSA has been asking more often to see a copy of the SNT, so you would need to send them a copy, which they would review and let you know if there are any problems with the trust.
Question if you become a DAC disabled adult child under your parents work history and they leave you an inheritance or leave you a house. Do you have to have these type of accounts?
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Thank you very much for this advice, I’ve successfully have set up an CA ABLE account for my son, he has a Wells Fargo bank account with checks to give account info to a relative that wants to GIFT money to him. Is it ok to have relative ACH into his Wells Fargo bank account, then what is the procedure to link ABLE ACCOUNT in order to keep records of deposited monies into Wells Fargo with intended purpose to transfer into ABLE account would that be the acceptable to SSI and Medical/medicare ? Thank you 😊 Linda R
Most states are enforcing the 65 rule on pooled and third party trust meaning you cannot add to them after age 65 when it comes to the Medicaid penalty. Also, if your trust has investments paying income does that effect the 65 Medicaid rule.
This is such helpful info, thank you ! I have a son that was 25 when he was approved for SSI, he’s on IHSS (we take care of him ) and we have a relative that wants to put in under $18k per year approx $1k per month but they decided to wait till he’s no longer on government benefits so as not to cancel those benefits out . From what you’re saying it sounds like a “CAL able account” maybe the way to go or any reason that a trust could be better choice?
Yes, I think a CalABLE account is perfect for these situations! Here’s a video I made about relatives making gifts for special needs beneficiaries: Thank you for the gift, rich auntie! ua-cam.com/video/B4lS7VRDqvU/v-deo.html
I have a video just on that subject! It’s called “Planning for a Disabled Grandchild: will it affect their public benefits?” ua-cam.com/video/624fHPTgrE8/v-deo.html I hope that’s useful!
Hi 🙋♀️Wondering If I were able to earn any $$$ . Would It neg effect SGA or being considered disabled when the SSA review for SSDI asks if you work and what do you make?? (I have the every 8 years level review from Soc security) 💜🙏
Such an important thing to address. As a hospital nurse of 30 years it was unfortunately common to see staff scramble under stress to check DNR status.
First, thank you for your videos. Outstanding presentation and content!
Question, if I set up a 3rd party SNT for the benefit of my nephew who is 25 years old and receiving SSI, and I only put in $10 to seed the trust, does SSI have to be advised of the trust? Or, only after the trust receives actual funding? Thank you again!
It’s my pleasure. 😊 When SSA sends a redetermination letter, you’re supposed to disclose the existence of the trust. SSA has been asking more often to see a copy of the SNT, so you would need to send them a copy, which they would review and let you know if there are any problems with the trust.
Best !!!
Question if you become a DAC disabled adult child under your parents work history and they leave you an inheritance or leave you a house. Do you have to have these type of accounts?
Subscribe to our Newsletter to stay up to date on all things Estate Planning and more! app.lawmatics.com/forms/share/3944a0fd-07f7-4c4a-8138-9e32e51367bc
Thank you very much for this advice, I’ve successfully have set up an CA ABLE account for my son, he has a
Wells Fargo bank account with checks to give account info to a relative that wants to GIFT money to him.
Is it ok to have relative ACH into his Wells Fargo bank account, then what is the procedure to link ABLE ACCOUNT in order to keep records of deposited monies into Wells Fargo with intended purpose to transfer into ABLE account would that be the acceptable to SSI and Medical/medicare ?
Thank you 😊
Linda R
Most states are enforcing the 65 rule on pooled and third party trust meaning you cannot add to them after age 65 when it comes to the Medicaid penalty. Also, if your trust has investments paying income does that effect the 65 Medicaid rule.
This is such helpful info, thank you ! I have a son that was 25 when he was approved for SSI, he’s on IHSS (we take care of him ) and we have a relative that wants to put in under $18k per year approx $1k per month but they decided to wait till he’s no longer on government benefits so as not to cancel those benefits out . From what you’re saying it sounds like a “CAL able account” maybe the way to go or any reason that a trust could be better choice?
Yes, I think a CalABLE account is perfect for these situations! Here’s a video I made about relatives making gifts for special needs beneficiaries: Thank you for the gift, rich auntie! ua-cam.com/video/B4lS7VRDqvU/v-deo.html
What if we have a Special needs grandson we wish to help the family as they are going through a difficult life change.
I have a video just on that subject! It’s called “Planning for a Disabled Grandchild: will it affect their public benefits?” ua-cam.com/video/624fHPTgrE8/v-deo.html
I hope that’s useful!
Hi 🙋♀️Wondering
If I were able to earn any $$$ . Would It neg effect SGA or being considered disabled when the SSA review for SSDI asks if you work and what do you make?? (I have the every 8 years level review from Soc security) 💜🙏
Also it's not just SSDI , have Medicaid secondary. Ty :)
@@starlacroix We’ll soon be releasing a video on Working While Receiving Public Benefits: SSDI, please be on the lookout for that!
Can an Able acct. Accept anything other than a cash or check payment??Ex. Like stock vauled at less than 18,000..?
Or any inheritance under the annual tax exclusion?
@@starlacroix Unfortunately an ABLE account only holds cash, not securities or other forms of assets
Ok, thanks for letting know @@ellencookman-EstatePlanningSNT