Special Needs Awareness Is A Benefit To All
- Posted in: Current Affairs
Our blog posts this week have focused on how the upcoming election could impact your assets and estate plan, and with our final post of the week it seems prudent to address the impact of the election on special needs families as well.
After Sarah Palin’s speech in Pennsylvania on October 24, there seems to be some confusion over how each candidate’s tax policies would harm or benefit people with special needs. CNN has published a helpful article which briefly discusses the proposed tax plans of both Barack Obama and John McCain, specifically how each would impact a person or family with a special needs trust.
For all the political maneuvering going on at this time, the fact that the concerns of special needs families are being discussed at all is promising. Especially considering that the discussion is taking place in a forum that is likely to reach so many people. Because what is just as concerning as the effects of taxes on special needs trust owners is the huge numbers of people out there with special needs who don’t have trusts all, and whose futures and finances are unprotected.
We hope that this very public discussion will bring awareness to those people who need it, whose families and children would benefit from the protection of a special needs trust. You can’t worry about the effects of taxes on your trust unless you have a trust. And once you have a special needs trust you have an advantage and protection that can’t be matched.