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@edgywagy145
2 жыл бұрын
Why it's all about a child ?
@bfaith2102
Жыл бұрын
This feels so violating. I was hit and now instead of having a way to survive off my settlement and pay family who have supported me, back - I lose my medical coverage for 5 years. Settlement will be gone so fast . Keep getting denied social security too / life feels over. Or my option is to use this suffocating demeaning traumatizing process that won’t even allow me to access money without jumping through hoops. It’s so sad.
@jerrysamuels1113
Жыл бұрын
Don't give up. File an appeal. Try to get someone else to help you if you are injured or depressed. One of these trusts might help you? I sure hope one helps me.
@Lili-xq9sn
11 ай бұрын
It's not demeaning to have a special needs trust. It's how you have the Settlement $, inheritance etc not count as Income. Besides lump sums are seen differently. EDIT: we also hired a fee-only financial advisor so the bulk of inheritance can grow. I have way more hope now that I can have a decent life...though I'm still on disability.
@sugabay
11 ай бұрын
It's very sad how they wont people to not have anything, and just have enough money to eat and pay Bill's smh
@SqueakyWheelMakesNoise
5 ай бұрын
I'm a disabled firefighter. I understand your feeling. But there has to be a way to make ssi work for people that ran into hard times but still want to be able to make it in this world. Hopefully anyway.
@SandraDevant
Ай бұрын
Oh my gawd i wish true link in canada 🇨🇦
@danb3980
9 ай бұрын
Great vid! Can you explain why retirement accounts should not be funded within the trust? What type of assets are best? Life insurace?? Thanks!
@ellencookman-EstatePlanningSNT
9 ай бұрын
You can (and often should!) name a trust as the beneficiary of a retirement account; but you shouldn’t make the trust the owner of the retirement account. As to which assets are best for you, that really depends on your circumstances; I suggest you consult with a financial advisor in your area.
@jerrysamuels1113
Жыл бұрын
Very helpful video. Thank you.
@HaphazardGardener
Жыл бұрын
Great video! Thank you! For housing, what if a Special Needs beneficiary wants to purchase a condo for housing, versus paying rent. How is that done? In our case, the beneficiary wants to own the condo and have the trust pay the monthly mortgage. He wants a letter saying he gets $X,XXX per month to give to the bank. As trustees, we aren’t sure if the Special Needs Trust is supposed to own the condo if paying the mortgage. Any help is appreciated!
@ellencookman-EstatePlanningSNT
Жыл бұрын
Hellow @Bettyrage! We appreciate you watching our videos. We're glad that they have been helpful to you! Would you mind emailing us at info@CookmanLaw.com We can answer this question, as well as any other questions you may have.
@interestingisitnot1
Жыл бұрын
There is no way anyone can survive on that little money. In California.
@ellencookman-EstatePlanningSNT
Жыл бұрын
I agree. The cost of living here in CA if really high.
@interestingisitnot1
Жыл бұрын
@@ellencookman-EstatePlanningSNT where are you located Ca?
@interestingisitnot1
Жыл бұрын
@@ellencookman-EstatePlanningSNT I am in O.C.
@michaelwallaceiii521
Жыл бұрын
Thank you
@ellencookman-EstatePlanningSNT
Жыл бұрын
You're welcome!
@jungpark662
11 ай бұрын
very helpful !!
@ellencookman-EstatePlanningSNT
11 ай бұрын
Wonderful! I appreciate your feedback.
@melvis776
Жыл бұрын
I have a special needs trust for my child but I don’t like the company. Can I change it?
@ellencookman-EstatePlanningSNT
Жыл бұрын
It really depends on whether the trust has been funded and the terms of the trust. Feel free to reach out to our office and we can discuss this further (info@cookmanlaw.com or www.cookmanlaw.com).Thanks!
@gwilliams1629
3 ай бұрын
How do I request transpiration such as a new vehicle? SSI is not involved.
@ellencookman-EstatePlanningSNT
3 ай бұрын
You would usually talk with the trustee of the SNT and ask them for what you need, then they’d make the purchase and deliver the item to you.
@Jimfromearthoo7
Жыл бұрын
Ellen, hopefully you can tell me. I am a trustee for my wife’s SNT. Their no longer any money left in the account. (Depleted)as they say in 2016. How long must I keep the records and receipts of the SNT? Thank you
@ellencookman-EstatePlanningSNT
Жыл бұрын
Jim, thanks for your question! The answer depends in which state you live. If you’re in California, I recommend the book Administering the California Special Needs Trust, by Kevin Urbatsch and Michele Fuller-Urbatsch, which goes into details on closing up a SNT.
@Jimfromearthoo7
Жыл бұрын
The trust is a nys trust. The funds were depleted as of 2016. My question is how long must I retain all the paper work and cancelled checks and receipts related to the SNT? Thank you
@haeleepues6267
Жыл бұрын
Does any ism decrease the benefit? Or can they have ism up to the amount of income that would disqualify them from ssi?
@ellencookman-EstatePlanningSNT
Жыл бұрын
Thanks for your message. ISM typically decreases monthly SSI payments by 1/3 of the Federal Benefit Rate, which is $914/mo (in 2023), so the monthly SSI check would be decreased by about $305/mo. Here is a video I did about SSI: Supplemental Security Income (SSI) 101 kzitem.info/news/bejne/02uFy2tmbYyBlIY
@lilianah3505
2 ай бұрын
If you transfer funds (the whole trust annual income) directly from a SNT to an ABLE account do you still need to file trust return and generate K1 for the beneficiary?
@ellencookman-EstatePlanningSNT
2 ай бұрын
I suggest you speak with an accountant about this; the income generated in the SNT will need to be reported somewhere, whether on a 1041 fiduciary income tax return or a K1 for the beneficiary.
@MadOldMan-ck5wq
5 ай бұрын
Certified specialist in estate planning what does that cost you couple hundred bucks and a couple weekends. It takes a lifetime to realize Estate Planners and Lying Lucy and Larry Legacy Lawyers are calling the Provisions of Trust a Trust by different names. And we need the Fiduciary Security Allied Legal Professionals super complex Traditional Law Model Prebate Probate Policy Protection Plan. With a multi-provision 1 to 8 Party Crime Interdiction Administration validation certification Trust. With Provisions for special needs children to business owners.
@fakenattypolice8317
7 ай бұрын
Im a co trustee in my sisters Supplemental needs trust. My sister also has 300,000 inherited IRS from our my mom, she also has 100,000 in a 3rd party pooled trust. As a trustee how do we know the pecking order on how she gets her money?
@ellencookman-EstatePlanningSNT
7 ай бұрын
This is a good question, and I don’t have a simple answer. A lot depends on what the trusts say. I suggest you consult an attorney in your state to get more direction.
@SqueakyWheelMakesNoise
5 ай бұрын
I have a question about these special needs trust. I am on ssi and buying land threw an owner carry contract. I wanted to move on the land but I will need to put a septic system on it first. How can I do all this without getting kicked off ssi if I might not be able to move onto the land right away. Can I put the land in a special needs trust? How can I get it out of the trust once I move onto the land?
@ellencookman-EstatePlanningSNT
5 ай бұрын
Those are very specific and challenging questions; I suggest you reach out to an attorney to answer your questions.
@u086566
Жыл бұрын
Elen are you licensed in Texas? If so, can you work with a client via video conference?
@ellencookman-EstatePlanningSNT
Жыл бұрын
Hello and thank you for watching! I'm only licensed in California. I recommend you look at the Academy of Special Needs Planners website for an attorney in her area in Texas.
@christinamariehicks1078
2 жыл бұрын
Eric terlizzi run that.
@fshawnyabeckman5338
9 ай бұрын
i need to know if you can help me get a lawyer for fraud on an inheritance i received back in 2021 and also if i win any money back to set up a special needs trust. I am waiting for social security disability to approve my case and i will be entitled to back pay and i do not want to lose it like my other money because people steal my money. I dont ant to just blow it i want to use it as needed.. can you help me find a person to help me. I dont have any upfront money. to pay lawyer. My monthly income on spousal support my ex decided to stop without any legal reason and he knows i do not have capability to go to court so he is mentally abusing me. I just need help and give much better detail. I would appreciate any help. i dont know how to put my private info on this message without everyone seeing it. Thank you
@ellencookman-EstatePlanningSNT
9 ай бұрын
I’m so sorry to hear what you’re going through. Can you reach out to our office and let us know where you’re located, and we can provide some recommendations.
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