CURRENT News

Have you ever received a gift that you wish you could give back?

I have...envision a full-size Rascal Flats fleece blanket.

What if I told you that when planning for an individual with special needs, money is often the worst gift they could receive?

A gift of cash, or even a gift card, is considered a usable resource in the eyes of the Social Security Administration and Medicaid. If our person’s usable resources exceed $2,000, it can affect services from federal programs.

Simply put, the one who needs the money the most can’t have it.

It is heart-warming to think about how much our families love our children, who, without question, need every advantage they can grasp, except this one. The rules are backwards, but just like the Dude from The Big Lebowski, we must abide.

So, what can we do?

1. Consider setting up an ABLE (Achieving a Better Life Experience) account. In the state of Georgia, we refer to it as a STABLE account. ABLE allows our person to have available resources above and beyond the $2,000 maximum and still maintain qualifications for SSI and Medicaid. Important note: this option has its own limitations and should be discussed with a financial advisor who is familiar with how these accounts work.

2. A stand-alone 1st party or 3rd party (preferred) Supplemental Needs Trust. An Estate Planning Attorney must draft a Supplemental Needs Trust. I highly suggest using an attorney who has significant experience with these types of trusts. Please note that the primary distinction between a 1st-party SNT and a 3rd-party SNT is the Medicaid clawback. The source of funding for the trust will be a key factor in the decision between first- and third-party SNTs.

3. Start planning now. Surprise gifts do happen. Sometimes they are sweet and generous gifts. At other times, gifts are a result of the loss of a loved one. Either way, the process remains the same, and having the legal and planning work in place is essential.

4. Have the conversation. A key question we ask during our SustainAbility Planning process is, “Do you know if our person may be the beneficiary of a gift or estate?” Planning is an exercise in protection and preparedness, not an act of greed, I promise.

So what should we not do?

• Leave it to Brother, Sister, or Cousin. Arguably, a bad plan. Why, may you ask? For starters, we have gift taxes, as well as potential capital gains taxes, for the holder. From there, issues include, but are not limited to, moral compass issues, financial mismanagement, or even outside lawsuits if the “owner” is sued.
• Open more than one 1st-party or 3rd-party SNT for the same person. While it is pretty standard for an individual to have both a 1st-party and a 3rd-party SNT, we do not suggest having multiple of each type. We understand that there is no law against this, but just like my Facebook relationship status in college, it’s complicated.

In no offense to the Rascall Flatts, but “What Hurts the Most” (this is a joke, look it up) for our families is having to abide by trust law, tax code, as well as Medicaid provisions. While these may seem restrictive, receiving generous gifts from family members doesn’t have to seem complicated or be dreaded. The planning and legal process can help families navigate these issues, providing clarity and financial solvency for their loved ones in the years to come.

Click here to learn more about Ability Wealth Group.

Jacey talks with Life With the Spectrum Host Gina Kavali on June 1. Click for interview.  

Atlanta, GA – January 2025 – The Georgia Neurodiversity Chamber of Commerce (GANCC) is thrilled to announce its official launch meeting, set to take place on Monday, January 29, 2025. The event will welcome attendees to learn more about the newest initiative designed to empower Georgia’s neurodivergent community and its advocates.

Welcome to the Launch!

The founders of GANCC - Jacey Smith, MBA, Jenny Rankin, LPC, and Cathi Arora, MPA - have professional experience the field of autism spectrum disorder and are proud parents of adult children. Over the years, they witnessed the challenges faced by neurodivergent individuals and their families, particularly after high school when supportive networks and workplace opportunities often diminish. Recognizing this critical gap, they established GANCC to build a new community.

Modeled after the highly successful Colorado Neurodiversity Chamber of Commerce, GANCC aims to bring together providers, agencies, parents, and businesses to foster a thriving, inclusive community.

What GANCC Offers

·       Educational Lectures and Workshops: Resources to educate and empower members of the neurodivergent adult community, their families, and Georgia businesses.

·       Networking and Social Opportunities: Platforms to build meaningful connections among neurodivergent individuals, their advocates, professionals and Georgia companies.

·       Workplace Development Models: Proven strategies to integrate neurodivergent individuals into Georgia’s workforce, promoting diversity, equity, and inclusion (DEI).

Membership categories include:

1.     Neurodivergent Individuals: Ages 18 and up, ready to enter or actively pursuing workforce opportunities.

2.     Professional Service Providers: Experts in transitional programming and workplace integration for neurodivergent populations.

3.     Georgia Companies: Organizations seeking to implement and benefit from neurodivergent workforce integration, including HR professionals and DEI-focused staff.

Special Keynote Speaker

Board member, Michel Bordeau., MA, LCSW, will be the keynote speaker. Michel will address the pressing challenges faced by neurodivergent adults in life and the workforce. He will highlight critical readiness skills, the importance of job experience, and strategies to enhance workplace environments where everyone can thrive. Michel will also outline how GANCC’s efforts will drive meaningful connections and actionable progress for our community.

The public is invited to the launch event and is free of charge. Please RSVP as space is limited.

Let’s transform connections into collaborations and create a more inclusive society together.

Event Details:

·       Date: Monday, January 29, 2025

·       Location: Serendipity Labs, 121 Perimeter Center W, 2^nd Floor, Atlanta, GA 30346

·       Time: 4:00pm – 6:00pm

·       RSVP: We request RSVP as space is limited.

RSVP LINK: https://www.gancc.org/events

For more information, please contact us at jacey@gancc.org or visit our website at www.gancc.org

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