Are you a taxpayer who has purchased long-term care insurance? Take note of your policy details and your premium amount, as you may be able to deduct the cost - or at least part of it - from your 2023 income.
How Can A Special Needs Trust Pay for Utilities?
The answer depends on whether the trust allows disbursements for utilities. If it does, you need to assess the disbursement’s impact on the beneficiary’s government benefits. If the beneficiary receives SSI , the payment of utilities can reduce his SSI benefit by up to $264.33 in 2015. If the beneficiary also receives Medicaid, you will need to consult a local special needs planner to determine the effect of the distribution. Payments of utilities will also increase a beneficiary’s Section 8 housing rent.
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