Masterclass in Special Needs Trust vs ABLE Accounts! (What you need to know)

[@jungpark662]

Best !!!

[@waynecmontgomery]

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.

[@ellencookman-EstatePlanningSNT]

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[@lindahuber5302]

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?

[@ellencookman-EstatePlanningSNT]

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! kzbin.info/www/bejne/eGXPhGqMh6mkrLc