Blog
What’s the Difference Between ‘Supplemental’ and ‘Special’ Needs Trusts?
You may have heard the terms "special" needs trust and "supplemental" needs trust and wondered what the difference is. The short answer is that there's no difference. Here's the long answer. When the field of special needs planning began some two decades ago, trusts...
What We Can Learn From TV Families: The Cosby Show
The classic 80s sitcom The Cosby Show featured a family led by Cliff Huxtable, a doctor, and Claire Huxtable, a lawyer. So we have two professionals, with presumably high incomes. And we have five good, if not entirely perfect, children – Sondra, Denise, Theo,...
Wise Guy’s Estate Plan Not So Wise
Most memorably known as mob boss Tony Soprano on the HBO series The Sopranos, actor James Gandolfini died in June at age 51. He left behind an estate worth an estimated $70 million. But to many advisors, the way he divided his estate would have gotten the fictional...
Why a Special Needs Trust Can’t Automatically Terminate When the Beneficiary Gets Better
Not all disabilities are necessarily permanent. One question that typically comes up when an attorney is drafting a special needs trust for a beneficiary whose disability may end at some point is whether the attorney can write a clause into the special needs trust...
Do Your Boomer Clients Know Who Will Be Their Caregivers As Elders?
In the 1960s, they were the face of the future. In the 2030s, they’ll be the face of the largest senior population in U.S. history. Born roughly between 1946 and 1964, they’re the Baby Boomers. These days, millions of them are caring for an aging parent, whether...
What We Can Learn From TV Families: The Brady Bunch
The Bradys are a great example of the kind of planning needed for a blended family. Mike and Carol are in their second marriage, and each have children from their first (Greg, Marcia, Peter, Jan, Bobby, and Cindy). With blended families, the estate plan must address...
