Some Good News For Military Families
As I have previously mentioned in this blog, my practice includes the area of Colorado Springs, Colorado – home to a significant population of military families. I like to keep abreast of Estate Planning issues that specifically impact our families serving in the military. Here is something that military families can celebrate. The National Defense Authorization Act (2015) and the Disabled Military Child Protection Act
Recent legislation (The National Defense Authorization Act 2015) will allow military members to name a special needs trust as beneficiary. (A special needs trust is a very specific type of trust that is best crafted by an experienced attorney)
Why is this good news? Because, previously, survivor benefits (for military) went directly to the children and in the case of special needs children (children with disabilities) this frequently would mean that a disabled military child would have the financial support of their SSI/Medicaid benefits negatively impacted.
To read more about this topic, go to http://www.specialneedsanswers.com titled: “Finally, Military Members Can Name Special Needs Trusts as Beneficiaries of Survivor Benefit Plans”
If you have questions about Colorado Trusts law, contact me.
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