HS 376 Legal and Financial Issues for Special Needs Families

This course covers unique legal techniques and tools that apply to special needs planning. Of particular importance are third-party funded special needs trusts created as part of an estate plan, wills, powers-of-attorney, guardianships, ABLE accounts, and self-settled special needs trusts established under federal and state law. The applicable issues surrounding Social Security and Medicaid are covered. In addition, special income tax topics enable financial advisors to understand and identify tax deductions and/or credits that may be available to families with special needs children and adults. It addresses some unique aspects of the medical expense deduction, the child and dependent care credit, the adoption credit, and the dependency exemption rules define a dependent for families of individuals with special needs. The student will examine some potential alternative minimum tax traps that may affect some of these families. This course builds upon Introduction to Disability (HS 375) by providing the detailed legal and financial considerations crucial to the special needs environment.