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All
content, products, and services within this website are copyright and
trademark protected by all laws of the United States of America.
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.
The
Special Needs Planning Workshop Kit©
Published by The Stevens Group, LLC
Scottsdale, AZ 85258
Copyright, 2001, Barton Y. Stevens and Barbara F. Stevens.
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.
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