The Nassau County Supreme Court recently granted a preliminary injunction, temporarily restraining a bank from selling the home of a woman with disabilities. This is significant because the bank was the trustee of the very Special Needs Trust (SNT) that…
A federal district court recently ruled in Williams v. Colvin (N.D. Ill., No. 12C7852, March 31, 2014) that payments from an annuity to a pooled special needs trust are not considered income when determining Supplemental Security Income (SSI) benefits. However, in…
Nothing is ever simple. If you have excluded funds such as German Reparations, what must be done to make sure they are excluded for Medicaid purposes? The best approach is to make sure that they you do not commingle these…
It has been several years since you signed and funded your Living Trust to avoid probate. All seems ok but is it really? #1 Have you funded your trust properly? If you do not re-title or assign your assets to…
Vincent J. Russo & Associates, P.C., sponsored a Health Care Professionals Seminar entitled, Hospice: The Right Care at the Right Time. The guest speaker was John Diaz-Chermack, the Assistant Administrator of Hospice of New York. John explained that the purpose of…
Owning your own home is widely considered as the American dream. But as any homeowner will tell you, the expenses associated with home ownership can be a nightmare. Luckily, there are certain tax benefits to paying these expenses. Some homeowners…
The number of people in the United States with special needs has grown significantly in recent decades as a result of technology and medical advances. This increase has created concerns for the care for the members of this population. The…
The death of actor Philip Seymour Hoffman is truly a great loss to the entertainment world, and a tragedy for the talented actor’s family and friends. Like the sudden and tragic death of actor James Gandolfini, estate planning lessons can…
The answer on the face of it is YES, you can take your child with special needs as a dependent. For someone to be claimed as a qualifying child, the person must meet four criteria: Relationship — the person must…
Saving for Retirement is Important, and it is always a good idea to contribute to a retirement plan. However, it is important to understand that once you contribute to certain retirement plans you may not be able to withdraw the…