529A Accounts for Disabled Individuals

posted by Eric Schutzbank Achieving a Better Life Experience (ABLE) became law in December 2014.  Similar to the 529 college saving plans, ABLE allows people with disabilities and their families to put aside funds for disability-related costs.  Set up by the state and administered through financial institutions, the income from qualified 529A Accounts for Disabled Individuals accrues tax-free. The law defines qualified individuals as those eligible for benefits under the Social Security Act title II or XVI.  In addition, if a physician has diagnosed blindness, medical or mental disability causing significant impairment to an individual aged 26 or younger and
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Estate and Advanced Care Planning is for Single People too

posted by Eric Schutzbank Being single doesn’t mean you do not need an estate plan. Single people need to be taken care of if they become incapacitated and also want to have a say in how their property is distributed after their death. Single people often have unique considerations when planning for the future. Married couples most often have their spouses act as their fiduciary in the event of incapacitation or death. Older couples with adult children general have their children designated to make decisions when they or their spouse can no longer do so. Single people without children need
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When Caring for an Elderly Relative becomes undue influence

posted by Eric Schutzbank Taking care of a deceased person’s assets and business affairs adds stress to an already emotional situation. Adding to the anxiety, families sometimes discover their loved one has been taken advantage of or manipulated by the relative they entrusted to provide care. A vulnerable elderly person is easy prey to someone who wants to manipulate them by seeking to be a beneficiary of their estate to the possible exclusion of the rest of the family. If a family member suspects this has occurred, do they have any legal recourse and/or means to protect the Elder who
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