Special Needs Trusts: Protect Your Child's Financial Future

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Leave money to a loved one with a disability—without losing benefits

Use a special needs trust to provide financial security for your child (or anyone) with a disability, without jeopardizing important government benefits. Funds in a special needs trust do not count against eligibility for benefits and can be used to improve the quality of your child’s life.

This book provides everything you need to know about special needs trusts—whether you make one yourself or have an attorney draft one for you. The authors explain:
  • how special needs trusts work
  • the trustee’s role
  • ways to pass important information to successor trustees
  • the pros and cons of joining a pooled trust, and
  • creating special needs trust with or without a lawyer.

This 7th edition is thoroughly updated and includes new chapters on ABLE accounts and letters of intent.
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About the author

Kevin Urbatsch is a principal of the special needs and settlement planning firm, Urbatsch Law Firm P.C. in Walnut Creek, California. He is a nationally recognized expert in the unique planning needs of individuals with disabilities and their families. Mr. Urbatsch is a charter member of the national organization, the Academy of Special Needs Planners. He writes and is a frequent lecturer both locally and nationally on planning for persons with disabilities, primarily concerning special needs trust drafting and administration.

Michele P. Fuller is the founder of the Michigan Law Center, PLLC. The firm focuses solely on planning that preserves and protects the assets of persons with disabilities and their families Ms. Fuller serves as an Advisory Board Member of the Academy of Special Needs Planners, a board member of the Michigan chapter of the National Academy of Elder Law Attorneys, and as Secretary of the Council for the Elder Law and Disability Rights Section of the State Bar of Michigan. She is a frequent publisher and speaker for national, state, and local organizations that address planning issues for people with disabilities.

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Additional Information

Publisher
Nolo
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Published on
Apr 10, 2017
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Pages
312
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ISBN
9781413324112
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Best For
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Language
English
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Genres
Business & Economics / Personal Finance / General
Family & Relationships / Children with Special Needs
Law / Estates & Trusts
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Content Protection
This content is DRM protected.
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Administering a special needs trust (SNT) is a very important job, which often has a profound impact on the life of persons with disabilities. In most cases, the SNT trustee is providing the beneficiary goods and services that improve their quality of life. In some cases, the SNT trustee may be the only person looking to the beneficiarys welfare. Thus, the role of SNT trustee is often a more substantial role than in many other types of trusteeships. The great SNT trustee is a solid financial manager, accountant, record keeper, legal counselor, public benefits advisor, social worker, housing coordinator, civil rights advocate, guardian, and life coach. This is why author Kevin Urbatsch published his book titled Administering the California Special Needs Trust.

It has been five years since the book was published. The reception for it far exceeded expectations. There have been excellent reviews of how it has helped SNT trustees, beneficiaries, their families, and professionals who advise persons with disabilities. After reviewing the book, the Federal Financial Institutions Examination Council (FFIEC) flew Kevin to Washington D.C. to present to federal government bank auditors on what to look for when auditing corporate trustees when banks administer special needs trusts. Other than the numbers that change each year, like SSI or SSDI, the balance of the book was current and up-to-date. However, there were some subjects that were missing in the book plus a couple of big changes that occurred since publication, including the passage of the Affordable Care Act and the ABLE (Achieving a Better Life Experience) Act that provide excellent new tools for the SNT trustee.

Kevin recruited several of his professional colleagues to assist in preparing this Second Edition of the book including Michele Fuller, Robert Nuddleman, Herb Thomas, Courtney Kosnik, Scott MacDonald, and Daniel Cutter. With their assistance, Kevin added the following new chapters to the book Paying Caregivers, Paying Trustees Fees, Understanding and Utilizing ABLE Accounts, and Protecting the SNT Trustee. Kevin was also able to update and revise the information in the balance of the book and provide additional forms to make the job of being an SNT trustee safer and more efficient.

With the checklists, form documents and law summaries included, Administering the Special Needs Trust contains a wide range of information for those charged with the responsibility of managing an SNT for persons with disabilities.

A groundbreaking approach to understanding and parenting children who frequently exhibit severe fits of temper and other intractable behaviors, from a distinguished clinician and pioneer in this field.

What’s an explosive child? A child who responds to routine problems with extreme frustration—crying, screaming, swearing, kicking, hitting, biting, spitting, destroying property, and worse. A child whose frequent, severe outbursts leave his or her parents feeling frustrated, scared, worried, and desperate for help. Most of these parents have tried everything-reasoning, explaining, punishing, sticker charts, therapy, medication—but to no avail. They can’t figure out why their child acts the way he or she does; they wonder why the strategies that work for other kids don’t work for theirs; and they don’t know what to do instead.

Dr. Ross Greene, a distinguished clinician and pioneer in the treatment of kids with social, emotional, and behavioral challenges, has worked with thousands of explosive children, and he has good news: these kids aren’t attention-seeking, manipulative, or unmotivated, and their parents aren’t passive, permissive pushovers. Rather, explosive kids are lacking some crucial skills in the domains of flexibility/adaptability, frustration tolerance, and problem solving, and they require a different approach to parenting.

Throughout this compassionate, insightful, and practical book, Dr. Greene provides a new conceptual framework for understanding their difficulties, based on research in the neurosciences. He explains why traditional parenting and treatment often don’t work with these children, and he describes what to do instead. Instead of relying on rewarding and punishing, Dr. Greene’s Collaborative Problem Solving model promotes working with explosive children to solve the problems that precipitate explosive episodes, and teaching these kids the skills they lack.

Michael Schofield’s daughter January is at the mercy of her imaginary friends, except they aren’t the imaginary friends that most young children have; they are hallucinations. And January is caught in the conflict between our world and their world, a place she calls Calalini.  Some of these hallucinations, like “24 Hours,” are friendly and some, like “400 the Cat” and “Wednesday the Rat,” bite and scratch her until she does what they want.  They often tell her to scream at strangers, jump out of buildings, and attack her baby brother. 
 
At six years old, January Schofield, “Janni,” to her family, was diagnosed with schizophrenia, one of the worst mental illnesses known to man.  What’s more, schizophrenia is 20 to 30 times more severe in children than in adults and in January’s case, doctors say, she is hallucinating 95 percent of the time that she is awake. Potent psychiatric drugs that would level most adults barely faze her. 

A New York Times bestseller, January First captures Michael and his family's remarkable story in a narrative that forges new territory within books about mental illness. In the beginning, readers see Janni’s incredible early potential: her brilliance, and savant-like ability to learn extremely abstract concepts. Next, they witnesses early warning signs that something is not right, Michael’s attempts to rationalize what’s happening, and his descent alongside his daughter into the abyss of schizophrenia.  Their battle has included a two-year search for answers, countless medications and hospitalizations, allegations of abuse, despair that almost broke their family apart and, finally, victories against the illness and a new faith that they can create a life for Janni filled with moments of happiness. 
 
A compelling, unsparing and passionate account, January First vividly details Schofield’s commitment to bring his daughter back from the edge of insanity.  It is a father’s soul-baring memoir of the daily struggles and challenges he and his wife face as they do everything they can to help Janni while trying to keep their family together. 
The groundbreaking book that explains Sensory Processing Disorder (SPD)--and presents a drug-free approach that offers hope for parents--now revised and updated.

Does your child exhibit...

Over-responsivity--or under-responsivity--to touch or movement? A child with SPD may be a "sensory avoider," withdrawing from touch, refusing to wear certain clothing, avoiding active games--or he may be a "sensory disregarder," needing a jump start to get moving.

Over-responsivity--or under-responsivity--to sounds, sights taste, or smell? She may cover her ears or eyes, be a picky eater, or seem oblivious to sensory cues.

Cravings for sensation? The "sensory craver" never gets enough of certain sensations, e.g., messy play, spicy food, noisy action, and perpetual movement.

Poor sensory discrimination? She may not sense the difference between objects or experiences--unaware of what she's holding unless she looks, and unable to sense when she's falling or how to catch herself.

Unusually high or low activity level? The child may be constantly on the go--wearing out everyone around him--or move slowly and tire easily, showing little interest in the world.

Problems with posture or motor coordination? He may slouch, move awkwardly, seem careless or accident-prone.

These are often the first clues to Sensory Processing Disorder--a common but frequently misdiagnosed problem in which the central nervous system misinterprets messages from the senses. The Out-of-Sync Child offers comprehensive, clear information for parents and professionals--and a drug-free treatment approach for children.

This revised edition includes new sections on vision and hearing, picky eaters, and coexisting disorders such as autism and Asperger's syndrome, among other topics.


From the Trade Paperback edition.
At last, for a generation that's materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi's 6-week personal finance program for 20-to-35-year-olds. A completely practical approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based around the four pillars of personal finance--banking, saving, budgeting, and investing--and the wealth-building ideas of personal entrepreneurship.

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The New York Times bestseller that is a must-read for any parent!

From Beth Kobliner, the author of the bestselling personal finance bible Get a Financial Life—a new, must-have guide showing parents how to teach their children (from toddlers to young adults) to manage money in a smart way.

Many of us think we can have the “money talk” when our kids are old enough to get it…which won’t be for years, right? But get this: Research shows that even preschoolers can understand basic money concepts, and a study from Cambridge University confirmed that basic money habits are formed by the age of seven. Oh, and research shows the number one influence on kids’ financial behaviors is mom and dad. Clearly, we can’t afford to wait.

Make Your Kid a Money Genius (Even If You’re Not) is a jargon-free, step-by-step guide to help parents of all income levels teach their kids—from ages three to twenty-three—about money. It turns out the key to raising a money genius isn’t to teach that four quarters equal a dollar or how to pick a stock. Instead, it’s about instilling values that have been proven to make people successful—not just financially, but in life: delaying gratification, working hard, living within your means, getting a good education, and acting generously toward others. More specifically, you’ll learn why allowance isn’t the Holy Grail when teaching your kid to handle money, and why after-school jobs aren’t always the answer either. You’ll discover the right age to give your kid a credit card, and learn why doling out a wad of cash can actually be a good parenting move.

You don’t need to be a money genius to make your kid a money genius. Regardless of your comfort level with finance—or your family’s income—this charming and fun book is an essential guide for passing along enduring financial principles, making your kids wise beyond their years—and peers—when it comes to money.
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