Before Signing, Talk to your Special Needs Advisor

Before Signing, Talk to your Special Needs Advisor

Before Signing Anything on Behalf of Someone Else, Talk to Your Special Needs Advisor.  Individuals lack the ability to sign documents for various reasons.  In some cases, a person has suffered from a disability since birth and has never had the mental capacity to make decisions independently.  In other cases, an injury or medical condition could render a healthy person temporarily unable to sign.  In many of these cases, especially those involving mental illness, there may be times when someone is capable of signing on one day and incapable of signing the next day.  One thing all of these various scenarios have in common is that a friend or relative should never sign anything for a pe ...

THE ABLE ACT – One Year Later

THE ABLE ACT – One Year Later

A year after Congress authorized ABLE Accounts as tax-free savings accounts for individuals with special needs, the Internal Revenue Service has still not completed the regulations on how the accounts should be implemented and managed.  Although the final regulations have not been released, we have learned some details which suggest the new accounts may be easier to utilize than had been thought previously. The new guidelines include: An individual applying for an account will not have to submit physician documentation regarding their disability. However, the individual will be required to certify that they have the documentation in their records and can make it available to the ABLE ...