Kiplinger

How Much Should Go into Your Special Needs Trust?

One of the most difficult challenges in planning for a child with special needs is figuring out how much money it is going to cost to provide for the child, both while the parents are alive, and after the parents pass someday.

All too often, it seems, I meet with someone who has done some estate planning but not their special needs estate planning nor have they given much thought to how much should fund that trust someday and which assets would be the best to use.

Before diving into the latter financial side, what is special needs estate planning? The crux of it is a special needs trust, which if properly established and managed, allows an individual with a

You’re reading a preview, subscribe to read more.

More from Kiplinger

Kiplinger3 min read
I’ve Inherited a Lot of Money. Now What?
It’s no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grie
Kiplinger4 min read
Got Crypto? The IRS Really Wants to Know
The 2022 crypto price crash understandably has some investors concerned. But for those of you who haven’t run for the hills, it’s worth knowing that cryptocurrency currently has the attention of not only the Biden administration, and Congress, but th
Kiplinger2 min read
Tax-Savvy Charitable Giving With QCDs Can Benefit Both Giver and Receiver
Plenty of retirees like to give back to their communities through charitable donations, but questions often arise over the best way to do that. What approach is efficient, provides the tax benefits you’re after, and also is advantageous for the chari

Related Books & Audiobooks