Finding Answers – Taxation Top

Naming a Special Needs Trust as Beneficiary of Your IRA or Retirement Plan

This issue of the Voice® is an update by Lisa Nachmias Davis, CELA, of her original article that appeared in 2014. Ms. Davis is a partner is the New Haven, Connecticut law firm of Davis O’Sullivan & Priest, LLC. She helps clients with estate planning, setting up or administering special needs trusts, qualifying for public benefits and probate and estate settlement; she also represents charities and other nonprofit organizations.

Filing a Tax Return for a Special Needs Trust:What a Trustee Needs to Know at Tax Time

This edition of The Voice® is a reprint of an article originally published back in April of 2017. As we head into tax season with so many different things on our minds, we thought it a good idea to reprint this article to remind special needs trust trustees of their obligations at tax time.

The primary focus of this article is to provide an introduction to the tax form that typically must be filed for special needs trusts that are generating income.

Tara Anne Pleat, Esq., CELA, is a founding partner of the law firm of Wilcenski & Pleat PLLC, in Clifton Park, New York. She practices in the areas of Special Needs Planning, Elder Law, and Trust and Estate Planning and Administration. Tara writes and lectures frequently on issues affecting individuals with disabilities and their families. She is currently a Member of the Board of Directors of the Special Needs Alliance.

Income Taxes and Special Needs

This installment of the Voice was written by Robert B. Fleming, CELA. Robert is a partner in Fleming & Curti, PLC, a Tucson law firm focusing on special needs planning, trust administration, guardianship/conservatorship and estate planning. He is a Fellow of the American College of Trust and Estate Counsel, and also of the National Academy of Elder Law Attorneys. He has been a member of the Special Needs Alliance since its founding, and was one of the original co-authors of the SNA's Handbook for Trustees, the free online guide to managing special needs trusts.

2023-03-23T14:32:20-04:00Tags: |