If your parents are on ss no need to get financial.planner
@ellencookman-EstatePlanningSNTКүн бұрын
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@JustMe-jc2ftКүн бұрын
Hint for building wealth: if you inherit a few hundred thousand while on section 8, use the Hud housing loan program and buy a house. Stop giving someone else 1/3 of your income with zero equity in return if you are given the chance.
@martinguldner3990Күн бұрын
I live in Georgia; You forgot to mention HUD Section 811 housing program for people with disabilities has not implemented an asset limit. I been in my HUD Section 811 housing since 2011. I been work the whole time except a 2 year gap I was unemployed. In 2020 I inherited $325,000 . I choice not to create a Special Needs because HUD counts the whole withdraw in calculating rent; vs only $13,000 a year in dividend and interest income. I also chose not to create a Special Needs Trust because of the higher tax rate and expenses like vacations do not count a qualified expense.
@Lili-xq9snКүн бұрын
@@martinguldner3990 Sorry, I don't understand you comment. How can HUD count Special Needs Trust as income?? Also, according to this video, now you'd be over the asset limit of $100,000. I'm only trying to understand because I'm in a similar situation, and cannot get direct answers.
@martinguldner3990Күн бұрын
@@Lili-xq9sn HUD counts distributions from Special Needs Trust and any other trusts as income. Only HUD Section 8 which is for anyone that is low income has the new $100,000 asset limit effect of this year. HUD section 811 Permanent Supportive Housing Program for people with disabilities that was once homeless has not implemented an asset limit in 2024. Since I'm in HUD section 811 housing program I specifically researched this change and it does not affect me.
@Lili-xq9snКүн бұрын
@@martinguldner3990 sorry, but you may not understand a Special Needs Trust doesn't do distributions. It specifically is to shield you from getting the$. It pays for Needs (termed in the Trust). It doesn't pay me directly. How is a Special Needs Trust income under hud??
@martinguldner3990Күн бұрын
@@Lili-xq9sn don't you have to take money out of Special Needs Trust to pay for things such as rent, utilities if not included in the rent payment, Medical Care even if it's a co-pay or deductible.
@Lili-xq9snКүн бұрын
@@martinguldner3990 Special Needs Trusts (SNT) are very different from other Trusts. 1) non-revocable: you give all $ to the trust forever! 2) SNT never GIVES you $: $ is paid by Trust for certain expenses outlined in Trust....essentially pays specific bills (not paying you, though). 3) SNT cannot cover regular, recurring bills or any bill that would make you lose your social services benefits, like Medicaid. For this reason, it can't pay your portion of Section 8 rent. [You "can't take $ out of SNT because the $ is no longer yours, or under your control. It's a deal with the Devil to still use social services & have inheritance. If you die before inheritance $ in SNT is spent, then every State you got help from drains the remaining $ from the SNT.]
@Lili-xq9snКүн бұрын
Does this new rule apply to other states' section 8??
@martinguldner3990Күн бұрын
it is nationwide for Section 8 the $100,000 asset limit. Also HUD Section 811 housing program for people with disabilities has not implemented an asset limit.
@ellencookman-EstatePlanningSNT2 сағат бұрын
I don’t practice in other states, so unfortunately I’m not familiar with low income housing rules elsewhere
@martinguldner39902 сағат бұрын
@@ellencookman-EstatePlanningSNT since I'm in HUD Section 8 11 and I knew about this change I watched both a HUD sponsored KZbin Channel video about it and downloaded as spreadsheet from a HUD housing authority. HUD Section 8 Nationwide now has a $100,000 asset limit HUD section 8 11 permanent Supportive Housing for disabilities as of now will continue not to have an asset limit.
@waynecmontgomeryКүн бұрын
Great video!!! And Section 8 is only giving you 6 months if your already on Section 8 and you have over $100,000 of assets to spend or put that money in a trust
@JeffScott-l3x2 күн бұрын
Where I'm getting ready to do is I've been waiting going on 2 years now for my disability I've done lost everything I have no I don't even barely even have clothes to wear so I got to do something I went and filed for SSI waiting for my hearing so is my exit me getting SSI going to mess up my disability or what's going to happen when I get my disability and I have SSI
@starlacroix2 күн бұрын
Hi, could you explain about "when you die and the trust gets funded, you need to report it to the SSA & DHS in California " ?? And is this with just testamentay or just 3rd party ? Im getting a 1st party SNT, I never heard anything about "Approval" tysm 🙏
@hero108zero32 күн бұрын
3rd party SNT need not be reported to SSA. Any 1st party (aka self settled trusts) SNT when funded must be reported to SSA if a person is receiving SSI
@ellencookman-EstatePlanningSNT2 сағат бұрын
If you’re receiving SSI benefits, you’re required to report any trust for which you are the beneficiary to the Social Security Administration - this would be a 1st party or a 3rd party SNT. SSA can then look over the trust and determine whether it’s a properly drafted SNT.
@garypotterton68403 күн бұрын
On the income test, do you double those amounts for a couple? Thanks
@ellencookman-EstatePlanningSNT2 сағат бұрын
The income amounts are increased for a couple, but are not doubled; here’s a website with the income limits: www.dhcs.ca.gov/services/medi-cal/Pages/DoYouQualifyForMedi-Cal.aspx
@NormaSmith-ig1zs4 күн бұрын
They don't give a fuk about us at all that's why when they be calling my phone saying Medicare Medicaid I'm like Medicaid b**** you hang up on me cuz you some b****** don't give a fuk about us
@Nobu5o44 күн бұрын
Thanks
@Jess.-.5 күн бұрын
How does Calfresh and SSI work together? Calfresh won’t affect the amount of SSI benefit but does SSI affect the amount of Calfresh benefits?
@ellencookman-EstatePlanningSNT2 сағат бұрын
Here is a website that goes into those details: calfresh.dss.ca.gov/food/home/ssi-and-calfresh
@marylightfoot48175 күн бұрын
Really enjoy your videos. But have a question if you can answer. I am a disabled 67 yr old senior. I receive a Social Security payment of 1713.00 after my Medicare deduction of 197.00 for my prescription plan I have through Medicare.
@angelindisguise19876 күн бұрын
I had the max ssi money but they took that away cause they said they paid me 7k over and is having me to pay it back like what the fuck I know that's not supposed to happen I need help to get that back !!!
@MrSmith-jj9te6 күн бұрын
This entire program was created with absolute criminal intent. By a highly diseased immoral government. Which clearly and openly aims to inflict undue hardship, cruel, and unusual punishment upon evey disabled citizen in need of such assistance with a bunch of criminally designed draconian income & asset limitations. That stopped aligning with reality back in 1980. A program that forces disabled people to not only live below poverty. But guarantees said recipients forever remain in poverty. That's not supplemental security. Thats a crime. Thats like giving a homeless man a dollar and then forcing him to give up the very clothes on his back because of it. If that's not enough? The program then seeks to further punish the very same people should they ever attempt to marry each other with more draconian restrictions. If the above is not considered cruel and unusual punishment? Then nothing is. Which is a violation of the 8th amendment which absolutely does not just apply to incarcerated people. No matter how a corrupt and criminal government attempts to spin it. Which has been aided & abetted by every politician for the last five decades. Instead of rectifing the problem. Such limitations may have held relevance back in the 1970s, but they certainly do not today. Which make them a bonafide delusion far beyond the realm of reality and common sense. There's no such thing as common sense government and there never will be as long as the great two party political con remains clogged up within it. The government has become so corrupt and self-serving that its dangerously addicted to always doing the wrong things in the name of serving itself at the expense of everybody else. Especially those the government can turn into second class citizens with a stroke of the pen. Its disgusting.
@ellencookman-EstatePlanningSNT8 күн бұрын
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@shanechostetler99978 күн бұрын
It’s absolutely fair. Not everyone wants to move every 5years. Washington state needs something equivalent.
@waynecmontgomery8 күн бұрын
Great information!!!
@user-qk4jg1wx4u9 күн бұрын
What about the fact that if your disabled and get food stamps when they increase the yearly cost of living for ssi (which for many years it was under 5 dollars or 0$ )they take a big chunk of you food stamps so in reality you got no increase and now they take a larger % out of food stamps so now you loose more food $ than the increase ssi total (so you basically got no cost of living increase and your food help also decreased when you add it all up,smh )can we talk about not decreasing our food stamps everytime there's a cost of living increase please
@FisherMan-g2z9 күн бұрын
Testing
@FisherMan-g2z9 күн бұрын
Since both of these steal our Grantees Legacies neither one, we'll wait for the Notary Index Crime Enforcement Regulatory approved Allied Legal Professional Administration Lawyers, Paralegal and LDA Trust Guardians, Two Witnesses and a Notary Trust Guardian to defend our families. With the NICER forgery proof crime free Inheritance transfer Security Services.
@dawndaniel2210 күн бұрын
Who gets 1100 a month 943 here and haven’t heard of any higher
@ellencookman-EstatePlanningSNT6 күн бұрын
In this video we use the California SSI number of $1183/month; the federal amount is $943/month, and some states (including California) supplement this very low amount.
@sandradavis36813 күн бұрын
Medi CALI need help with food.Cannot get help I get104.00foodstamps while paying all my own bills
@sandradavis36813 күн бұрын
I got that. Letter because I tried to work and Social security was trying to take memory away
@sandradavis36813 күн бұрын
MONEY AWAY
@sandradavis36813 күн бұрын
I wished I got that 1,000amonth
@sandradavis36813 күн бұрын
I get 943.00 a month and nobody can. Live on it!
@ceeggsinspace428813 күн бұрын
Thank you for this information. I just had to do a review for SSI for my daughter in May. The interviewer asked me about how much she paid the household for rent. I told him It was average $750 a month depending on how much utilities were because we split it 4 ways. He did not mention anything about the $334/month Federal rule and also did not restore any of the deduction from her SSI. Maybe it will change in September.
@ellencookman-EstatePlanningSNT15 күн бұрын
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@jillr75915 күн бұрын
Another fabulous video full of great content!
@bettyhart757917 күн бұрын
943.00 is all ssi people get.cant survive on that😡😡😡.who's getting 1,100.00 a month,the rich????
@ellencookman-EstatePlanningSNT16 күн бұрын
PLEASE NOTE: In this video we use the California SSI number of $1183/month; the federal amount is $943/month, and some states (including California) supplement this very low amount.
@Augie-f8h17 күн бұрын
Does the ben of a 3rd party Snt have to be disabled or what if they receive more then 2200 a month. and not receive on ssi or Medicaid as trust maker thought. can it be terminated if trust doesn’t benefited the Ben of having a snt
@ellencookman-EstatePlanningSNT12 күн бұрын
Whether or not the SNT can be terminated really depends on the terms of the SNT itself. If the language of the trust doesn’t allow this, you might have to go to court to get an order to terminate the trust.
@popgems18 күн бұрын
There are a couple of discrepancies. 1. Property tax under Prop 13 can't be raised more than 2% per year, not 1%. 2. Yes, people 55 and older can transfer their lower property tax to a new home within California and it will stay at the same rate if they purchase a home of equal or lesser. However, if they sell their home for $500,000 and purchase a new home for $600,000 they will be assessed for an addition $100,000 onto their low transferred tax base.
@user-Vida-Locust18 күн бұрын
This is ridiculous...no one abides by the rules of these deductions. Most ppl pay their necessities themselves without relying on others.
@mz.blackberrybutler438018 күн бұрын
It's not fair that they only talk about the senior citizens getting a raise but you guys need to start helping people that's under the age of 65 and receiving SSI in the amount of 943 and people on the on disability are only receiving 937 it's not fair to us that you guys are not helping us that way that you are helping senior citizens we are people too so you need to start helping us in that same way so please stop worrying about them I say again and start helping people that are under 65 because we are people too. As a new person that's making a decision on everything please I say again stop worrying about them only and help us as we need the help too I really can't say have a truly blessed day because I'll be lying to myself I was taught that God says he makes a decision on everything so I trust in him that you will make the right decision as he taught you!!!
@WizeOwl76418 күн бұрын
I do not have enough money for an efficiency apartment 😞. I'm trying to obtain a voucher but that's if i win the state voucher lotto 😮. It's immoral !
@WizeOwl76418 күн бұрын
I despise the marriage penalty ! People who are disabled should have the basic human need of love and companionship without being penalized 😢.
@HeidiDean-t6g19 күн бұрын
Yeah unless you're married
@ellencookman-EstatePlanningSNT22 күн бұрын
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@user-fx5ru1de9g22 күн бұрын
Wow 🤯 mind blown 💥 crazy good. ❤❤❤❤
@markbloxham175022 күн бұрын
thank you for your input🥳
@waynecmontgomery22 күн бұрын
Great video!!!
@michaelperog420123 күн бұрын
Excellent
@mechelebolton33223 күн бұрын
what if you get both ssi and ssdi...ssdi being the larger check each month
@ellencookman-EstatePlanningSNT12 күн бұрын
If you want to preserve your SSI benefits, you’ll need a 1st party SNT. If you don’t set up a 1st party SNT, you’ll likely lose the SSI benefits but you can still keep the SSDI benefits
@ParMonSun24 күн бұрын
I thought anything under 18k(this year) has a gift tax exclusion. Regardless if gifting to able account or snt, why would a 709 have to be filed for small amounts?
@ellencookman-EstatePlanningSNT12 күн бұрын
A gift to a SNT is not considered a “completed” gift, so the $18K annual exclusion (this year) doesn’t apply to gifts to SNTs, and the giver needs to file a 700 form. Compare this to a gift to an ABLE account, which is considered a completed gift directly to the beneficiary (even if someone other than the beneficiary is managing the ABLE account), so no 709 form is needed.
@Hi-jx5oe24 күн бұрын
I know you are covering california but, do many of these rules apply to other states?
@ellencookman-EstatePlanningSNT12 күн бұрын
It depends on the rule. Some of the rules are federally-based and apply to all states; other rules can be (and often are) adjusted by that specific state.
@Hi-jx5oe24 күн бұрын
Do the fees vary base on state?
@ellencookman-EstatePlanningSNT12 күн бұрын
It depends on the rule. Some of the rules are federally-based and apply to all states; other rules can be (and often are) adjusted by that specific state.
@lustig621025 күн бұрын
Which states have the nice probate court system referred to in this video?
@ellencookman-EstatePlanningSNT12 күн бұрын
I’ve heard that Texas and Pennsylvania have pretty user-friendly probate systems, but I haven’t experienced them myself so I can’t say for certain.
@joconroy947526 күн бұрын
Excellent
@jungpark66228 күн бұрын
If somebody manage beneficiary's money and buy beneficiary a car with that money, is it ok ? Under Beneficiarys name (DMV ownership report) ?
@ellencookman-EstatePlanningSNT12 күн бұрын
Yes, that should be fine. And FYI, under SSI rules, a beneficiary can own 1 car and that’s considered an exempt asset (i.e. doesn’t count towards the asset limit for SSI).
@ellencookman-EstatePlanningSNT29 күн бұрын
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@uteruspower186229 күн бұрын
Washington State removed the asset limit for qualifying for the Medicare Savings Program, but like you say in this video Medicaid sill have a strict asset limit for long-term care so a 3rd party special needs trust is still necessary. The crazy thing to me is that the Medicare Savings Program no longer has an asset limit but the income limits for a married couple are still low enough that disabled people either can't get married or have to divorce because of it.