Bart Stevens Special Needs Planning

Special Needs Planning for Persons with Disabilities

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Special Needs Planning Tax Deduction
All professional fees that pertain to setting-up a Special Needs Trust and/or preservation of assets in a Special Needs Trust are tax deductible. This includes, but is not limited to Bart Stevens Special Needs Planning, LLC initial consultation, private fee-based planning and group planning workshops. (Note: "The ABC's of Special Needs Planning Made Easy"© and "The Special Needs Planning Kit"© are likewise tax deductible). This deduction is made on the Form IRS 1040 Schedule A - Itemized Deductions. They are classified as miscellaneous itemized deductions and are included with other investment expenses, subject to 2% of your adjusted gross income. It is highly recommended that in addition to this provided information, that you check with your tax advisor to confirm that the expenses being itemized are indeed tax deductible.

The ABC’s of Special Needs Planning Made Easy ©
Published by The Stevens Group, LLC
Scottsdale, AZ 85258
Copyright, 2002, Barton Y. Stevens and Barbara F. Stevens

Book Disclaimer:
This publication is designed to provide general information prepared by the author in regard to the subject matter covered. It is sold with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, or other professional service. This publication should not be utilized as a substitute for professional service in specific situations. If legal advice or other expert assistance is required, the service of a professional should be sought.

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the written permission of the copyright owner. Printed in the United States of America.

Distributed in the United States by Bart Stevens Special Needs Planning, LLC.

LIMIT OF LIABILITY -- DISCLAIMER OF WARRANTY
This Special Needs Planning Workshop Kit© includes draft documents as part of this plan. Inclusion of these draft document is not to be construed as a recommendation and/or legal advice provided by associates of Bart Stevens Special Needs Planning, LLC.

Adoption and implementation of this document based on prior consultation with you and any advisor you include is done by notarized signature. In the future your current Wills and Trusts may be reviewed in order to be assured that all documents are properly coordinated and in compliance with laws and regulations.

Medicaid regulations vary from state to state. Prior to preparing your Special Needs Trust it is suggested that you contact your local Medicaid office and ask for a copy of the language they require in Special Need Trusts.

It is suggested that after you sign, notarize and fund the Special Needs Trust, you submit a copy to Social Security and Medicaid for compliance approval with their guidelines. The process for submitting these documents is provided in the workshop.

Social Security regulations and guidelines are sometimes interpreted differently amongst their various offices. The issue of a 'payback' provision is a common area of discussion. A payback provision will be required in certain types of Special Needs Trusts which when drafted specifically to receive the assets of the person with special needs will allow them to qualify for certain government benefits.

Special Needs Community Pin™
The Special Needs Community jewelry line is a Trademark™ of Barton Y. Stevens and Barbara F. Stevens.