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The Miller Minute

January 2020

Millers Financial Group
1801 Fruitville Pike, Suite 202
Lancaster, PA 17601
717-509-7154

A publication by Millers Financial Group that informs parents of children with special needs on current financial and legal matters.  Feel free to pass these articles along to family, friends and colleagues.
What Happens to an ABLE Account If the Beneficiary Is No Longer Disabled?
If an ABLE account has been set up for a person with special needs, what happens to the account if the beneficiary no longer qualifies as “disabled” according to IRS regulations due to medical improvement or inaccurate diagnosis?
SSA Issues Controversial Proposal That Could Cut Hundreds of Thousands From Disability Rolls
Advocates are warning that a little-noticed proposed rule change could result in hundreds of thousands of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) recipients, many of them children, losing benefits.

Understanding the Differences Between a Living Trust and an Irrevocable Trust
You may be thinking about setting up a trust. Before you commit to a plan, make sure you understand the differences between the two basic types of trusts.
GAO Calls for Increased Oversight of Organizations That Handle Social Security Benefits for Nearly 1 Million
In a new report, the Government Accountability Office calls for better oversight of organizations that handle the Social Security benefits of recipients who cannot manage their own benefits and lack a family member or friend to do so.

ABOUT THE EDITOR

Mike Miller is the founder of Millers Financial Group.  He is also the parent of a child with a disability.  It is through his own personal journey that he discovered the distinct challenges that parents face when trying to plan for their financial future.

Mike has earned the designation of Chartered Special Needs Consultant® and can provide guidance to parents on a broad range of financial topics including special needs trusts; wills; power-of-attorney; guardianship; Social Security and Medicaid, and more. 

For many of the firm's clients, their greatest concern is preserving the quality of life of a loved one with a disability who may outlive the caregivers’ ability to provide support. Mike walks with them through a decision-making process about their child’s future - such as housing, guardianship, government benefits, special needs trusts, and funding the potential cost of lifetime care.

Mike is a regular speaker and supporter at organizations and schools that support parents of children with disabilities.  

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Disclaimer
All content in this publication, including any links to additional information and publications, is for information purposes only. The content and material presented is believed to be from reliable sources, however, no representation is made as to its accuracy, completeness, timeliness, or relevance. Nothing in the site or linked to other sites should be construed as legal, tax or investment advice. Use of any information, materials, ideas or opinions presented herein is done completely at your own risk. All information and ideas should be discussed in detail with your advisor and/or your legal or tax professional before implementation. Use of this publication or its links should not be a substitute for personalized investment advice.

Investment advisory services offered through Millers Financial Group, LLC. Securities offered through Fortune Financial Services, Inc. Member FINRA/SIPC. Millers Financial Group, LLC, Fortune Financial Services, Inc., and Horizon Investments, LLC. are separate entities.