Trustee of Special Needs Trust must be cautious in making reimbursements
A person who is receiving Supplemental Security Income (SSI) from the Social Security Administration must report changes in his income or resources (assets) to SSI, because this can affect his eligibility or the amount of benefits. If countable resources exceed $2,000 on the first of a month, eligibility can be lost. If the issue is detected after the fact, there can be a resulting overpayment...
Programs to Achieve Self-Support (PASS) Accounts are an Underutilized Tool
Recently I attended a national NAELA seminar where I was re-introduced to the PASS account program. What is a PASS account? This SSA program allows a disabled individual who wants to make a plan to have a new career or job to divert their own existing income and assets from any source to a designated account to pay the expenses of this plan. The expenses can include college tuition,...