© Special Needs Alliance, LLC Harry, 48, and Sally, 46, have an autistic son, Bill, age 21.  Bill lives with his parents.  The couple is concerned about Bill’s welfare after they die.  Harry and Sally always thought that Bill would live with his sister, Joan.  Joan has three children and it is apparent that Joan’s husband, Andy, will not be happy with Bill living in his home. Harry and Sally have a home, retirement plans, and $100,000 in investments.  They have life insurance.  Bill receives SSI and Medicaid, and he can have no more than $2,000 of assets.  Any income [...]

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Tags: Estate Planning, Special Needs Planning, Special Needs Trusts
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1. INTRODUCTION The total return trust is an idea whose time has come. With the arrival of the Prudent Investor Rule and the development of the modern portfolio theory, Trustees now have great flexibility to invest aggressively and to improve the total return for both income beneficiaries and remaindermen. 2. TRADITIONAL TRUSTS Traditional trusts were known as income rule trusts. Under these trusts, the trustee held the principal and distributed the income. There was inevitable conflict between the income beneficiary who wanted trust assets invested to produce the highest possible income and remainder beneficiaries who wanted trust assets invested for [...]

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Filed under Estate Planning, Estate Planning, Library.
Tags: Estate Planning, Special Needs Planning, Special Needs Trusts
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