King & Wood, P.A.

How Professionals Use Estate Planning

“Estate planning is essential for professionals looking to secure their financial legacy and protect their assets.”

Estate planning encompasses many aspects of an individual’s life, including asset management, wealth transfer and tax planning. With the help of an experienced estate planning attorney, a secure financial future and protection for loved ones can be accomplished. A recent article from mondaq, “Estate Planning for Professionals” provides useful details.

Estate planning includes protecting personal assets from creditors. The tools most often used include trusts, retirement accounts and insurance. Which type of trust is needed depends upon each person’s circumstances and should be tailored to meet your needs. Available trusts include gift trusts, revocable trusts, marital trusts, trusts to benefit children and special needs trusts, to name a few. Trusts also transfer business assets out of direct ownership while minimizing estate taxes.

Retirement accounts, including IRAs, are considered savings vehicles but serve other purposes. Certain retirement accounts include ERISA spendthrift protections, which also allow unlimited accumulation free from creditor claims while protecting someone from taking too much out of their account. ERISA, a federal law, does not protect IRAs, so any protection for the IRA is state-specific. In some states, assets in IRA and Roth IRAs are protected from creditors in case of bankruptcy.

Business owners are often advised to use LLCs and corporations to protect assets from creditors. However, the entity used depends upon the nature of the business and the owner’s circumstances. Keeping business and personal assets separate is a foundation of estate planning, which should also incorporate retirement and succession planning.

Succession planning should be done as soon as a business reaches a certain level of stability and success. If family members are part of the business, assigning key roles, clarifying responsibilities and planning for how ownership will transfer when the founding owners decide to retire or if they die while still operating the business needs to be in place. How the business will be transferred, which can occur in many different ways, must be clarified.

Divorce is an unpleasant fact of life for many families. Protecting assets must be weighed along with maintaining relationships, particularly where children are involved. A pre-nuptial agreement for the professional or business owner should be part of planning for marriage. Drafting the document when the relationship is good can clarify issues and hopefully preclude some acrimony if the marriage doesn’t go well.

An estate plan requires time to prepare, as documents including a last will and testament, power of attorney, healthcare power of attorney, advanced directives and trusts all require careful drafting. Any estate plan must be reviewed every few years to ensure its efficacy.

Reference: mondaq (Oct. 18, 2024) “Estate Planning for Professionals”

How Does Estate Planning Protect Young Children?

“To make sure that your children are taken care of if something happens to you, it’s important to appoint a guardian, establish a trust and ensure there’ll be financial support.”

Once you have a child, you’ve got a bundle of joy—and a lifelong commitment to caring for the child, sometimes even after they reach adulthood. What would happen if something happened to you and your partner? To be sure your child or children are taken care of, you’ll need to take these estate planning steps, as explained in a recent article from Kiplinger, “To Protect Your Kids, Consider These Estate Planning Steps.”

Appointing a guardian. Planning for the absence of parents from a physical and financial perspective needs to be done. Parents need to establish a guardian and have the person named in their will. It may be a good idea to name a secondary guardian if something happens and the primary guardian is unwilling or unable to serve in this role.

Create a trust. Parents should consider creating a trust for their children to ensure that there is money to provide for their care if both parents die. A child under the age of 18 is a minor and, as such, may not legally hold title to property. A trust is used to hold assets for the child’s benefit. The language of the trust would have instructions to provide for the children’s education, health and support.

There are two basic trusts to consider. A revocable trust is created during a person’s lifetime and can be changed anytime by the trustmaker. A testamentary trust is created as part of a will. Neither trust needs to be funded until the person passes away, at which time the property of the decedent is placed in a trust if the will contains the correct instructions. An estate planning attorney will be able to structure this plan.

Assign a trustee. This person manages the trust assets for the children's benefit. They need to be financially responsible people who can manage the funds for the children. The trustee can be a family member but should not be the same person chosen as the guardian. Keeping these roles separate ensures that the guardian will not misuse funds. Another option is to hire a professional to serve as the trustee. Professional trustees, including banks or financial advisors, usually charge a percentage of assets. In some cases, estate planning attorneys serve as trustees for minor children.

Establish terms of distribution. It’s up to the parents to decide how their children should receive trust assets. They can mandate principal distributions at certain ages, like a certain percentage at age 20, another at 30 and the balance at 40. While the parent dictates the terms of distribution while the children are minors, the trustee will be the one to decide on distributions for food, health, education, or extracurricular activities.

How do you be sure there will be money for your children? Parents should purchase life insurance, since most young parents don’t have a lot of liquidity. Term policies are the least expensive and can be for ten, twenty, or thirty years, during which the policy is guaranteed if the premium is paid. Whole life insurance is another option. However, it is more expensive.

Start a 529 college savings fund. These accounts can be funded through automatic withdrawals from a checking account, or family members can be encouraged to make gifts to these accounts. In some states, there are state income tax benefits for residents. The growth is tax-free if the funds are used for qualifying educational expenses.

When the child becomes a legal adult. Once a child celebrates their 18^th birthday, they are legal adults, and parents lose their rights. New adults should have a healthcare proxy so someone can make medical decisions for them in case of incapacity. They should also execute a HIPAA disclosure form so healthcare professionals can discuss their medical care with parents.

If a child has special needs. An estate planning attorney will create a Special Needs Trust to hold assets and name a trustee to manage the funds. This trust allows a child with special needs who may be eligible for government benefits to continue to receive benefits in addition to distributions from the trust.

Reference: Kiplinger (Nov. 19, 2023) “To Protect Your Kids, Consider These Estate Planning Steps”

Do You Need a Trust Fund or a Will? Or Both?

“Estate planning involves both trust funds and wills to help ensure the smooth transition of assets to your beneficiaries.”

Understanding the difference between a will and a trust fund, including their advantages and disadvantages, is important for effective estate planning. A trust fund is a legal entity holding and managing assets for another person or organization, explains a recent article from SmartAsset, “Trust Fund vs. Will: Which Is More Essential For Estate Planning?” A will is a legal document directing the distribution of assets after death. Both have a role to play in estate planning.

A trust fund is a legal arrangement where a trustee holds and manages assets for the benefit of another party, known as the beneficiary. There can be multiple beneficiaries, and organizations may be beneficiaries in addition to individuals. The trust can hold cash, investments, real estate, or other property types. The trust document details the rules and guidelines for the trustee to follow while managing the assets. This gives the grantor—the person who created the trust—a lot of control over how the assets are used during life or after their death.

Different types of trusts serve various purposes, depending on the grantor’s financial and family situation. A family with a developmentally disabled member may use a Special Needs Trust to ensure long-term security and care for their child. A wealthy family planning for estate tax liabilities may use an irrevocable trust to remove assets from their taxable estate.

A will is a legal document used to express an individual's wishes for the distribution of their property after death. The will is only effective after the testator, or the person creating the will, has died. Unlike a trust, nothing in the will is enforceable during the person’s lifetime. The will is overseen and executed through probate, a judicial procedure. Prepared correctly, a will can speed up access to beneficiaries and ensure that the decedent’s wishes are followed.

Creating a will includes naming an executor to carry out the terms of the will, identifying beneficiaries, and signing the document in the presence of witnesses. Wills are state-specific, meaning the laws of each state govern how a will needs to be prepared and the requirements for witnesses. A local estate planning attorney should be used ensure that the will aligns with state law.

When the will goes through probate, it becomes part of the public record, and anyone wishing to review it in its entirety may do so. For many individuals, the lack of privacy is a reason to place assets in trusts, which remain private.

Whether you use trusts, a will, or both, ensure that you’ve titled assets correctly, so beneficiaries can have access while minimizing estate taxes. An experienced estate planning attorney can help you to create an estate plan that is best suited for you and your family’s needs.

Reference: SmartAsset (Oct. 10, 2023) “Trust Fund vs. Will: Which Is More Essential For Estate Planning?”

Why are Contingent Beneficiaries Important?

“When planning your estate rarely will you experience difficulty naming your initial beneficiary or beneficiaries for your will, IRA’s or life insurance.”

If you’ve been married or in a longstanding relationship, it’s almost certain your initial beneficiary will be your spouse or partner. If you have children, it’s likely an easy decision to make them contingent or successor beneficiaries to your estate. More often than not, children inherit equally, explains the article “PLANNING AHEAD: The problems we have naming contingent beneficiaries” from The Mercury.

To avoid conflict, parents often decide to name children equally, even if they’d prefer a greater share to go to one child over another, usually because of a greater need. This is, of course, a matter of individual preference.

However, as you move down the line in naming a successor or contingent beneficiaries, you may encounter some unexpected stumbling blocks.

If there is a beneficiary who is disabled, whether a child, grandchild or more distant relative, or even a spouse, you have to determine if naming them is a good idea. If the disabled individual is receiving Medicaid or other government assistance, an inheritance could cause this person to become ineligible for local, state, or federal government benefits. An estate planning attorney with knowledge of special needs planning will help you understand how to help your loved one without risking their benefits.

A Supplemental Needs Trust may be in order, or a Special Needs Trust. If the person’s only benefit is Social Security Disability—different from Supplemental Security Income or some others—they may be free to inherit without a trust and will not impact benefits. Social Security Disability recipients cannot work in “substantial gainful employment.”

Another issue in naming successor and contingent beneficiaries is the choice of a trustee or manager to handle funds if a beneficiary cannot receive benefits directly. A grandparent will sometimes be reluctant to name a son-in-law or a daughter-in-law as trustees for minors if their daughter or son predeceases and the inheritance is intended for a minor or disabled grandchildren. The grandparents may be concerned about how the funds will be used or how well or poorly the person has handled financial matters in the past.

The same concern may be at issue for a child. A trust can be structured with specific parameters for a grandchild regarding the use of funds. If a supplemental needs trust is established, the trustee must understand clearly what they can and cannot do.

What happens if you’ve run out of beneficiaries? For those with small families or who live into their 90s, many family members and friends have passed before them. These seniors may be more vulnerable to scams or new “friends” whose genuine interest is in their assets. In these cases, an estate plan prepared by an experienced estate planning attorney will need to consider this when mapping out the distribution of their estate, however large or small, to follow their wishes.

Reference: The Mercury (Aug. 28, 2023) “PLANNING AHEAD: The problems we have naming contingent beneficiaries”

How Do You Split Property Among Heirs?

“If you thought that doing your taxes got complicated when you acquired more assets, wait until you try to split them up among multiple children when planning their inheritance.”

Deciding how to divide assets among heirs is one of the most challenging aspects of estate planning, especially when the estate includes complex holdings like real estate, family businesses and investments not easily divided, according to a recent article from GO Banking Rates, “I’m a Financial Advisor: Here’s How to Equally Divide an Inheritance Among Heirs.” Navigating this process is something you want to get right the first time to prevent heirs from becoming embroiled in family fights and, worse, litigation.

The first decision is whether the goal is equal or equitable distribution. Equality means that everyone gets the same inheritance, regardless of their situation. Equity is a bit more challenging, since everyone inherits what they need to succeed, and chances are that each of their needs are different.

Considering the needs and individual circumstances could be a more suitable way to help your heirs.

Consider one adult child who enjoys good health, and owns a business and a mortgage-free house, while their sibling cannot work and depends on government benefits. An equal solution would split the inheritance equally, but in an equitable distribution, the child who can’t work would receive more financial support and a Special Needs Trust to protect their benefits.

Trusts are the preferred method of estate planners because they bypass probate, offer tax advantages and protect assets from creditors. They also allow grantors to ensure distribution as desired. Trusts can be revocable or irrevocable, living or testamentary, and can be designed to include custom rules to suit any situation.

However, there are two asset classes presenting challenges to distributing equitably, even with a trust.

Distribution of complex holdings like real estate property and family-owned businesses requires considerably more planning than simply splitting a bank account. Consideration needs to be given to the dynamics of beneficiaries and what potential issues may arise.

In the case of a family business, the challenge is deciding whether or not to liquidate the property and distribute the proceeds or determining how to establish ownership among the siblings.

If one or more heirs want to continue to own the business and others do not, a buy-sell agreement will be needed so they can buy the other’s shares at a predetermined price, thereby ensuring all receive fair compensation. A professional appraisal will be critical to establishing the current market value, ensuring fair distributions.

Another way to resolve this is to create a Family Limited Partnership (FLP) to maintain control within the family, while distributing profits equitably.

What if heirs want vastly different outcomes, and you’d like to simplify matters? One answer is to have crystal-clear language in your will stating if beneficiaries can’t reach an agreement on what should happen to the business, it will be liquidated and the proceeds divided.

An experienced estate planning attorney will help determine the best way to achieve your goals based on your family’s situation and your wishes.

Reference: GO Banking Rates (June 8, 2023) “I’m a Financial Advisor: Here’s How to Equally Divide an Inheritance Among Heirs”

How a Special Needs Trust Protects Loved Ones

“While it may not seem necessary when a special needs child is young, setting up a trust to ensure their financial stability is better to be done sooner rather than later.”

A special needs trust, also called a Supplemental Needs Trust, is created for a person who is disabled and provides financial support. This is necessary because individuals who receive means-tested government benefits have assets and income limits set by government agencies, says a recent article, “The right special needs trust can help ensure a loved one’s financial stability” from Florida Today.

By setting up a special needs trust, these limits can be avoided, and a parent can ensure that their loved one has a better quality of life, during and after the parent’s own lifetime.

An estate planning attorney can help determine the best trust type in this situation. It’s also important to track how money from the trust is spent and follow legal guidelines.

A benefit of having an SNT is that it protects a special needs individual from financial abuse, since the trustee is the only person with access to the funds. For this reason, choosing a trustee who is responsible, financially savvy and of the highest integrity is very important.

The most commonly used trust is a Third-Party SNT. The distinction is that the trust is funded by someone other than the beneficiary, such as a parent or other family members. There are two types of third-party SNTs—a “standalone” trust and a “testamentary” trust. The standalone trust may be accessed during the funder’s lifetime. The testamentary trust is funded by an estate when the funder passes and is part of their will.

There is also a first-party trust funded by the beneficiary. This is helpful when the individual acquires a large sum of money. The money may be placed in the trust and used as it would be for any special needs trust. A key difference: a Medicaid Repayment Provision usually needs to be put into place as part of the trust, so Medicaid may be reimbursed when the beneficiary dies.

Lastly, the pooled trust is another commonly used special needs trust. It combines the trusts of more than one beneficiary and can be a first or third-party funded trust. It must be set up and run by a nonprofit organization, which can benefit a loved one of a person with special needs by the nonprofit handling the trust. The nonprofit acts as the trustee, administers the funds, makes investments, and ensures that tax obligations are met.

An estate planning attorney will provide you with the options for your unique situation. Parents are wise to put a comprehensive plan in place to protect their special needs family members for the future.

Reference: Florida Today (April 8, 2023) “The right special needs trust can help ensure a loved one’s financial stability”

Should Each Child Get Equal Inheritance?

“Equally sharing the wealth among the children isn’t always fair, such as when one sibling is the primary caretaker, or another is already wealthy.”

Every estate planning attorney has conversations with their clients about how adult children should inherit. While most people assume siblings should all inherit equally, in many situations, equal is not always appropriate. There are many situations where an equal inheritance might be unfair, says a recent article, “How Should Your Children Inherit? 4 Scenarios Where ‘Equal’ Is Not Appropriate,” from Kiplinger.

The Caretaker Child Lives With the Parent. When one of the children lives with the parent and has taken on most, if not all, of the responsibilities, it may be fair to treat the child differently than siblings who are not involved with the parent’s care. Taking care of paying bills, coordinating health care appointments, driving the parent to appointments and being involved with end-of-life care is a lot of responsibility. It may be fair to leave this child the family home or leave the home to a trust for the child for their lifetime. The parent may wish to leave the caretaking child a larger portion of the inheritance to recognize the additional help they provided.

A Special Needs Child. If the parent has been the primary caregiver for a special needs child, the estate plan must take this into consideration to ensure the child will be properly cared for after the parents die or are unable to care for the child. Depending on what government benefits the child receives, this usually means the parents need to have a Special Needs Trust or Supplemental Needs Trust created. Most government benefits are means-tested. To remain eligible, recipients may not have more than a certain amount of personal assets. The Special Needs or Supplemental Needs trust could receive more or less than an equal amount of the estate the child would have inherited.

In this scenario, siblings are generally understanding. The siblings often know they will be the ones caring for the family member with special needs when the parents can no longer provide care and welcome the help of an elder law estate planning attorney to plan for their sibling’s future.

An Adult Child With Problems. It’s usually not a good idea to leave an equal portion of an inheritance to an adult child who suffers from mental illness, substance abuse, is going through a divorce or has a life-long history of making bad choices. Putting the money into a trust with a non-family member serving as a trustee and strict directions for when and how much money may be distributed may be a better option. In some cases, disinheriting a child is the unpleasant but only realistic alternative.

Wealth Disparities Among the Siblings. When one child has been financially successful and another struggles, it’s fair to bequeath different amounts. However, wealth can change over a lifetime, so review the estate plan and the wealth distribution on a regular basis.

How To Decide What Will Work For Your Family? Every family is different, and every family has different dynamics. Have open and honest discussions with your estate planning attorney, so they can help you plan for your family’s situation. If possible, the same frank discussion should take place with adult children, so no one is taken by surprise at a time when they will be grieving a loss.

Reference: Kiplinger (Dec. 18, 2022) “How Should Your Children Inherit? 4 Scenarios Where ‘Equal’ Is Not Appropriate”

How Do Special Needs Trusts Work?

“A special needs trust (SNT) can help you provide financial security to your child after you die without leaving them ineligible for the government benefits that they need to sustain care.”

Parents with children who have special needs know they play a pivotal role in their child’s medical, social, emotional and mental health. They also face the challenges of figuring out government assistance programs like Medicaid and how these and other programs provide much-needed help throughout a child’s life. Another important way that parents of children with special needs help is with the creation of a special needs trust, as explained in the article “Special Needs Trust (SNT): What It Is and How It Works” from Forbes.

A special needs trust is used to hold assets in an account to be used to support an individual with special needs. The funds belong to the trust and not the individual, so they are not factored into their eligibility for government benefits.

SNTs are typically set up by a parent, grandparent, or guardian. The person who sets up the account, called the “grantor,” funds the account, as may any other individuals who wish to provide for the child.

The grantor names a trustee, or a third party, who administers the trust. The trustee is a fiduciary and must act in the best interest of the beneficiary. Funds are to be distributed in accordance with the directions in the trust. The trustee will be responsible for distributing funds, following government benefit rules and requirements, and managing tax obligations, among other things.

Parents are often the trustees, although others, like siblings or close relatives, may also be trustees. Parents who are both grantor and trustee generally name a successor trustee to take over after they die, become incapacitated or resign from their role.

A person who may not be able to support themselves due to a medical condition or a disability can gain financial security from an SNT.

Someone with special needs is likely to rely on means-tested government benefits, like Supplemental Security Income (SSI) or Medicaid. These benefits are only available to people with limited income or assets. Anyone receiving SSI, for example, may not have more than $2,000 of countable resources.

A parent who wishes to provide support after they die must plan in advance, so their bequest does not result in the person losing their benefits. This could happen if money is left through anything except a special needs trust. An estate planning attorney will know how to structure the parent’s estate plan to protect the individual with special needs and their government benefits.

Assets in an SNT can be used for a wide variety of expenses, including out-of-pocket medical or dental expenses, personal care givers, rehab services, education, vacations, and other permissible uses.

There is a lot of complexity involved with creating a special needs trust. For one, there are several different kinds of SNTs. You’ll want to select the one best suited for your family. Laws about means-tested benefits vary across states, so you’ll need to work with an estate planning attorney familiar with the laws of your state.

A well-drafted estate plan, incorporating a special needs trust, will provide your loved one with the resources to maintain as much normalcy as possible as they adjust to life without their parents.

Reference: Forbes (Sep. 22, 2022) “Special Needs Trust (SNT): What It Is and How It Works”

How Do You Provide Financial Help for a Special Needs Child and Retirement Too?,

“People with children who cannot support themselves need to think well past their own lifetime and figure out how to provide for children after they are gone.”

For parents of children with disabilities, the challenges of preparing for retirement and for their child’s future are far higher than for families with healthy, high-functioning adults. Planning for your own retirement, while needing to secure the stability and basic needs of a child who will be a dependent forever often feels impossible, according to the recent article “Planning for Your Retirement, and for a Child’s Special Needs, All at Once” from The New York Times.

Even under the best of circumstances, where there’s plenty of money available and many hands to help, caring for an adult child with special needs is emotionally and physically challenging. As parents age, they have to address their own needs plus the needs of their adult dependent. Who will care for them, provide safe and comfortable housing and care for them when their parents no longer can?

Understanding the entire picture can be difficult, even for parents with the best of intentions. First, they need to understand how their retirement planning must be different than other families. Their investments need to be multi-generational to last not just for their lifetimes, but for their child’s lifetime. They can’t be too conservative because they need long-term growth.

In addition, special needs parents need to keep a certain amount of funds liquid and easily accessible, for times when their child needs a new piece of expensive equipment immediately.

One of the parents will often leave the workforce to provide care or take a lower paying position to be more available for care. This creates a double hit; the household budget is reduced at the same time its strained by costs not covered by benefits or insurance. Paying for gas to drive to therapy appointments and day program, buying supplies not covered by insurance, like adult diapers, waterproof bedding, compression garments to promote circulation, specialized diets, etc. adds up quickly.

Even with public health assistance, finding affordable housing is not easy. One adult may need supervised care in a group home, while others may need in-home care. However, the family home may need to be modified to accommodate their physical disabilities. With wait times lasting several years, many families feel they have no choice but to keep their family member at home.

Another challenge: if the parents wanted to downsize to a smaller house or move to a state where housing costs are lower, they may not be able to do so. Most of the public benefits available to special needs people are administered through Medicaid at the state level. Moving to a state with a lower cost of housing may also mean losing access to the disabled individuals’ benefits or being placed at the end of the waiting list for services in a new state.

For disabled individuals, maintaining eligibility is a key issue. Family members who name a disabled in dividual as a beneficiary don’t understand how they are jeopardizing their ability to access public benefits. Any money intended for a disabled person must be held in a specialized financial instrument, such as a special needs trust.

The money in a special needs trust (SNT) may be used for quality-of-life enhancements like a cellphone, computer, better food, care providers, rent and utilities among other qualified expenses.

There are two main categories of SNTs: first party trusts, created with assets belonging to the individual. Any money in this trust must go to reimburse the state for the cost of their care. Another is a third-party special needs trust, established and funded by someone else for the benefit of the disabled individual. These are typically funded by parent’s life insurance proceeds and second-to-die life insurance policies. Both parents are covered under it, and the policy pays out after the second spouse dies, providing a more affordable option than insuring both parents separately.

Reference: The New York Times (Aug. 27, 2022) “Planning for Your Retirement, and for a Child’s Special Needs, All at Once”

Is ABLE Account the Same as Special Needs Trust?

“Because of astronomical costs of care and support—often more than $100,000 per year—most individuals with disabilities will need government assistance, such as Supplemental Security Income and Medicaid.”

Many families help their disabled loved ones with whatever resources they have, if they can, but this must be done carefully to protect eligibility for government aid, reports a recent article titled “Here’s how ABLE accounts, special needs trust differ…and how they can work together” from CNBC. An ABLE account—named for the Achieving a Better Life Experience Act—can be paired with Special Needs Trusts to improve the quality of life for the disabled family member.

How do Special Needs Trusts work?

The two types of Special Needs Trusts are known as Third-Party and First Party trusts. The Third-Party Trust is funded by parents or others and are only for the disabled person’s needs. When the parents pass, the funds go to someone else. A First Party Trust is created with the disabled individual’s own funds and is used to shelter any income, earned or inherited, to maintain their eligibility for Medicaid, which has both income and asset limits. Any distributions from the First Party Trust must be approved by the trustee. After the death of the disabled individual, Medicaid will make a claim on any funds in the First Party Trust

Special Needs Trusts (SNTs) may not be used for certain expenses paid for by government programs, including groceries, medical expenses covered by Medicaid and housing expenses, which are covered by Supplemental Security Income (SSI).

Expenses not covered by government programs can be paid from ABLE Accounts. The ABLE account is a tax-advantaged saving account similar to the 529 accounts used for college savings. Funds may be used for expenses that maintain or improve the individual’s health, independence, or quality of life. Funds can be used for education, recreation, personal technology and more.

Medicaid can clawback funds from the ABLE account after the death of the recipient.

There are requirements and limitations to the ABLE account. In 2022, only $16,000 may be contributed per year. Most parents leave more than this amount for their disabled children, so a different vehicle is needed for inheritance.

Here’s where it gets interesting: A trustee for a SNT can make a distribution to the ABLE account to help cover expenses not permitted to be paid from the Trust.

An estate planning attorney can help the family plan for the present and the future to use these and other strategic planning tools for a disabled individual.

Reference: CNBC (June 30, 2022) “Here’s how ABLE accounts, special needs trust differ…and how they can work together”