The Texas A&M AgriLife Extension Service and OneOp will present the webinar “Special Needs Trusts and ABLE Accounts” on Aug. 24.
The event will be from 10-11 a.m. The program is free, but advance registration is needed at https://tx.ag/OneOpTrusts. Once registered, participants will receive an email with instructions and a meeting link.
“The presentation will provide an overview of the different types of special needs trusts and explain the circumstances under which each type of trust could be beneficial for military families,” said Rachel Brauner, AgriLife Extension military program specialist, Bryan-College Station.
She said it will also cover ABLE accounts, tax-advantaged savings accounts for individuals with disabilities and their families. The accounts were created by the passage of the Stephen Beck Jr. Achieving a Better Life Experience, ABLE, Act of 2014.
The webinar will offer free continuing education credits for social workers, licensed professional counselors, licensed marriage and family therapists, board-certified patient advocates, case managers and accredited financial counselors.
OneOp, formerly the Military Families Learning Network, is a virtual professional development platform for providers who serve military families.
Webinar objectives
Professionals attending the webinar will leave with a better understanding of the following:
- The different types of special needs trusts and when a Medicaid payback is required.
- How ABLE accounts can be used in combination with or in place of special needs trusts.
- Strategies to receive the maximum Supplemental Security Income award, even if the SSI recipient lives at home and receives “in-kind support and maintenance.”
- The critical need for long-term estate planning for individuals with special needs.
OneOp event overview
Topics covered in the webinar will include:
- The different types of special needs trusts: self-settled, third-party and pooled trusts.
- The items and services that can be paid for by special needs trusts.
- The relationship between shelter payments and certain government benefits.
- General considerations for selecting an appropriate trustee.
- Exploring the use of ABLE accounts and the strengths and limitations of this special needs planning tool.
- Comparing the effectiveness of ABLE accounts versus special needs trusts in maintaining eligibility for needs-based government benefits.
- Avoiding Medicaid paybacks.
- Providing alternatives to guardianships.
- Long-term financial strategies for families wishing to provide for loved ones with special needs.
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