ABLE Accounts, Trusts, Financial and Benefits Planning

Moderator: Michael Morris, Executive Director

National Disability Institute (NDI)

This webinar is brought to you by the ABLE National Resource Center and sponsored by Bank of America

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Presenters and Panelists

Kelly Thompson, Trust and Estate Attorney

Yolanda Mazyck, Executive Director of Shared Horizons Pooled Special Needs Trust

James Sheldon, Supervising Attorney at Neighborhood Legal Services Inc.

Mark Friese, Vice President at Merrill Lynch, Menick-Friese Group

William Thompson, Deputy Executive Director of Florida Prepaid College Board, Florida ABLE Program

Focus of Discussion

•What are the critical factors needed to make informed decisions?

•What are the differences between various types of trusts?

•Would I want to open an ABLE account in addition to or instead of a trust?

•What is the range of costs involved in opening a trust or an ABLE account?

•What is benefits planning and how does it relate to financial planning?

Kelly Thompson, Trust and Estate Attorney

Question 1: Could you briefly tell the audience what a special needs trust (SNT) is?

Kelly Thompson, Trust and Estate Attorney

Question 2: Are there different kinds of SNTs? And what might a “typical”customer look like?

Kelly Thompson, Trust and Estate Attorney

Question 3: What is the range of costs associated with opening and managing a SNT? And is there a minimum dollar amount needed in assets?

Yolanda Mazyck, Executive Director of Shared Horizons Pooled Special Needs Trust

Question 1: Could you briefly tell the audience what a Pooled Income Trust is?

Yolanda Mazyck, Executive Director of Shared Horizons Pooled Special Needs Trust

Question 2: How does a Pooled Income Trust differ from other special needs trusts? And who might be a “typical”costumer?

Yolanda Mazyck, Executive Director of Shared Horizons Pooled Special Needs Trust

Question 3: Tell us more about Shared Horizons (size, fee structure, average account size).

Mark Friese, Vice President at Merrill Lynch, Menick-Friese Group

Question 1: How do you help a family with financial planning who have a son or daughter with disabilities?

Mark Friese, Vice President at Merrill Lynch, Menick-Friese Group

Question 2: Are you asked to help inform decisions about trusts and/or opening an ABLE account? If so, how often?

Mark Friese, Vice President at Merrill Lynch, Menick-Friese Group

Question 3: Who is a typical customer?

Mark Friese, Vice President at Merrill Lynch, Menick-Friese Group

Question 4: What costs or fees are involved?

James Sheldon, Supervising Attorney at Neighborhood Legal Services Inc.

Question 1: What is a benefits advisor and who is a typical customer?

James Sheldon, Supervising Attorney at Neighborhood Legal Services Inc.

Question 2: Are there fees and costs involved and how are the services of a benefits advisor typically funded?

James Sheldon, Supervising Attorney at Neighborhood Legal Services Inc.

Question 3: How will the availability of ABLE programs change benefits advising and planning?