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If you have been named as a trustee of someone鈥檚 trust, you may be wondering what you are supposed to do. It is important that the trustee understand their duties and responsibilities.聽 The most important thing to remember as trustee is that the trust assets are not your assets.

ABLE accounts are tax-advantaged savings and investment accounts for disabled individuals. We often get questions about the difference between an ABLE Account and a Supplemental Needs Trust and whether one is better than the other for a disabled child.

Britt Burner, Esq. discusses the importance of estate planning with a focus on special needs topics, including supplemental needs trust.

Wills and revocable trusts often refer to the terms 鈥減er stirpes鈥� and 鈥減er capita鈥�. When you create a last will and testament, or a revocable trust, you choose specific beneficiaries to inherit your estate at your death.

A 529 plan is a tax-advantaged savings account designed to pay for a child鈥檚 eventual educational expenses. Money in a 529 plan is used for a wide range of educational expenses, including college tuition, K-12 private school, certain apprenticeship expenses, and even student loan repayments.

Learn the importance of Estate Planning documents and the benefits of the Community Medicaid program which can allow its participants the ability to live independently in their homes.

Whether a Trustee can sell property in a trust depends on the terms of the trust. 鈥淢aybe鈥� may seem like a common attorney refrain to frustrate clients, but the powers of a Trustee depend either on the terms of the trust, the purpose of the trust and New York鈥檚 Estates, Powers and Trusts Law (鈥淓PTL鈥�).

The聽changing estate tax landscape聽makes it more important than ever for accountants and executors to file a federal estate tax return for portability when one spouse passes away.

Removing a Trustee is not easy. Removal of a Trustee takes more than a disagreement or general mistrust of the fiduciary to have him or her removed.

Chronic Medicaid is a needs-based benefit that will cover room and board in a nursing home. When an individual is approved for Chronic Medicaid, the local Department of Social Services (DSS) determines the net available monthly income contribution (or 鈥淣AMI鈥�).