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There’s nothing better than a fresh chocolate chip cookie straight from the oven.  Soft, not crispy, with the chocolate in that perfect gooey texture. There’s that perfect window of time before the cookies cool off and go into the cookie jar for the grandchildren.  If grandma’s nice, she’ll let you sneak a couple before dinner, but usually they’re kept safe so as not to spoil dinner. But, what do cookies have to do with revocable vs irrevocable trusts?

America’s “middle child” generation, otherwise known as Generation X, is on the cusp of a new financial stage. Nearing retirement or heavily focused on building their retirement funds, those born between 1965 and 1980, have shifted their focus from day-to-day expense planning to building a portfolio that will carry them through retirement and other life changes. 

Accepting the role of trustee comes with an abundance of responsibility, especially when it comes to a special needs trust (SNT). The trustee’s duty is to oversee the investment, administration, and distribution of the trust. When broken down this means the trustee is owning responsibilities like paying bills, filing taxes, maintaining records, and ensuring the trust is growing through diverse investments. While some can look to a family member to act as the trustee, some turn to a professional fiduciary who is experienced in the nuances of special needs trusts. 

If you’re like me, shopping post-Covid has resulted in some serious sticker shock. In May, strawberry prices were up almost 27% because Driscoll’s under-estimated demand and told farmers to plant different fruit. Used car prices are up over 26% because of lack of supply.