Planning for Life

So You've Been Appointed Trustee, Now What?

Posted by Harry S. Margolis on August 3, 2016

By Harry S. Margolis

Congratulations.  You have been appointed trustee of a trust.  That is a strong vote of confidence in your judgment and probity.  Unfortunately, it is also a major responsibility.  Following is a short description of your duties.

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Topics: trusts, supplemental needs trusts

Victory for Special Needs Trusts and Section 8 in DeCambre

Posted by Karen Mariscal on June 20, 2016

By Karen B. Mariscal

On June 14th,  the First Circuit in the seminal (and very local) case DeCambre v. Brookline Housing Authority, reversed the decision of the lower court, and held that distributions of principal from a special needs trust are NOT counted as income for purposes of Section 8 calculations.  This is the correct decision, in our view, and a significant victory for the disabled population, with nation-wide implications. 

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Topics: housing policy ,, special needs planning, supplemental needs trusts

Supplemental Needs Trusts: Do They Need a Separate Tax ID?

Posted by Karen Mariscal on July 27, 2015

By Karen B. Mariscal

When creating a supplemental needs trust (“SNT”) for our clients, we are often asked whether the trust requires a separate Tax I.D. number. The short answer is, “Not until you fund it.”  The majority of our clients who create SNTs leave them unfunded until they die, at which point the trust becomes irrevocable and a Tax I.D. number is required.

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Topics: supplemental needs trusts

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