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Posts posted by wjag
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I don't believe this is accurate. In fact, I think the state gets reimbursed upon death from an ABLE account first, and then goes to probate. It can be a long and expensive prossess before heirs get money. That doesn't happen with a SNT.
I think I am right.
from:
"When a beneficiary passes away, the Trust document will set forth what happens next. The person(s) or charitable organization(s) named to receive the remaining funds in the Trust are referred to as the “remainder beneficiaries.” In the case of a Special Needs Trust, the state that provided the beneficiary with benefits must be paid first. The Trustee (the person managing the Trust) should review the Trust document carefully and confer with a lawyer to assist in performing the duties prescribed in the Trust and under state law. In Oregon, the Trustee has a duty to notify the remainder beneficiaries of the existence of the Trust, provide a copy of the Trust to them and account for all Trust assets. Generally, the Trust will instruct the Trustee to first pay the last expenses of the beneficiary and of the Trust administration (such as taxes, tax preparation fees, attorney fees). Sometimes the Trust document will instruct the Trustee to wait for a certain period of time before distributing the Trust assets to the remainder beneficiary(ies). After the bills are paid and the waiting period has lapsed, the Trustee must distribute the assets in an expedient manner."
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Thanks for bringing this up again. I've been meaning to look into this more.
We set up a Special Needs Trust pretty early on, and all the sites I've been looking at are all about ABLE accounts vs SNTs. I've been wondering if they both might be useful for different things. Can't really find anything, though.
We have a SNT also. We are a few years ahead of you in this, age wise of our children. My son, now 18, looks like he will get approved for SSDI. A small miracle as we did this on our own, without legal assistance (although we did have legal assistance for the SNT). The ABLE account allows you to save up to 100K for their needs. And unlike a SNT, the money is theirs. If you leave money in a SNT, upon their death it reverts to the state. So we can take his SSDI, charge him room and board, and then dump that money in the ABLE account. The downside for us is that the SSDI is taxable to him (us) and the room and board is taxable on us. So in effect, we pay tax twice on that money, which ends up in his ABLE account.
The big reason for doing the ABLE account is that it does not get needs tested when qualifying for SSDI, medicare, etc. The system is crazy. If we don't charge him room and board, then his potential 733/mo gets reduced by 233 dollars. If we do charge him room and board, he may get the full 733 but we get double tapped on the taxes. Money in the ABLE account also accrues interest tax free.
Anyone feel free to correct this.. I am still learning/navigating through this gauntlet.
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Every game left on the schedule is "winnable"..
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Anyone have any direct experience, good, bad, indifferent, to opening an ABLE account? Need to do one this week and there just isn't a lot of objective advice out there on this...
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About time they run off two straight victories to suck us all back in..
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What an awful team we have. Can't pass. Can't cycle. Can't score. Can't defend.
Stands were fun. Even in a loss.
Chant that cut to the core. "How many cups does Buffalo have?" Zerrroo, Zerrrrooo.. Done in a very mocking way..
They also get a very focal, "You Suck" going...
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They really are a terrible passing team
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Did admission come with a complementary blanket, pillow and sleep mask?
About 40% full
Their opening is pretty good
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In the house. Nice arena. First time here for me.
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In NJ for tonight's game. Staying at Newark Penn Station Hilton. Fantastic. Jumped PATH into NYC. So easy and convenient. Hotel is connected to train station and indoor walkways to Prudential Center. Very nice.
Also have some #NotMyPres protesters here blocking Market Street on the way to the Prudential Center. Could be interesting this evening.
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Need to vote this week.
1 unit on Sabres, regardless of line versus NJ in NJ
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Dang.. Was hoping to watch him for the first time tomorrow. Looks like I am going to watch the Amerks tomorrow night.
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This team.. argh.. I'll be at the game tomorrow night with my son.
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No blueline scoring is the culprit. Why, they shoot into skates.
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Thank you for your service, sacrifice and dedication. America is an amazing country that sports the most powerful military apparatus in the world and they serve a civilian command structure.
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3. I hate millennials.
I'm raising two of them. Makes for some really interesting conversations about life, love and the pursuit of happiness. Every generation believes the ones before them and after them have screwed things up..
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Who are these guys?
The Bills can't cover TEs
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Not a fan of the kicking game strategy tonight
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Anyone else TV Feed choppy?
not here
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Larsson and Acciari are going to get into tonight. Larsson just decked him with a cross check from behind.
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Is Lurch playing? Yep.. Didn't see him til now
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Dive
Dive=Marchand...
Time for a shortie
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The way the D is not playing in this game, why don't they just skate two more forwards?
OT- Autism
in The Aud Club
Posted
Could you be more specific?
I was pretty sure when our lawyer set this up, she told us that since my son gets state medical insurance, that they expect to sweep up any assets left in this account, so don't leave any appreciable balance in there.
This money comes from family donations and insurance.