Gerald Winters Esq., CPA
What to Know About the 9/11 Victims Compensation Fund
This upcoming September 11th marks the 18 year anniversary of the devastating attacks that shocked the nation. While most are still reeling from the events that took place that day, unfortunately, some victims of the attacks continue to struggle every day with illnesses and injuries related to the attacks. In fact, research predicts that the number of deaths from September 11th related diseases will outnumber the number of people who died on September 11, 2001. As a result, the September 11th Victim Compensation Fund aims to provide a permanent fund for survivors in need.
As we remember those who were affected as a result of the September 11th attacks, let us share with you some information about this important fund and other ways you can help provide support to victims.
What is the September 11th Victim Compensation Fund?
The September 11th Victim Compensation Fund was created in 2001 to compensate those who suffered from injuries or illnesses as a result of the attacks, as well as the families of those who lost their lives. As first responders continued to develop illnesses in the years following the attacks, however, the fund was revitalized through the James Zadroga 9/11 Health and Compensation Act of 2010.
Recently, the victim compensation fund has been threatened, as administrators reduced the benefit payments that victims receive by as much as 70 percent. Fortunately, at the end of July, the U.S. Senate passed a bill to ensure a fund that compensates victims of the September 11th terrorist attacks will not run out of money until at least the year 2092.
Are there other ways I can give back to survivors and the families of victims?
There are various ways to support the survivors and the families of victims of the attacks. You may consider donating to the National September 11th Memorial and Museum, Tuesday’s Children, or the Families of Freedom Scholarship Fund, which are a few notable organizations that provide resources and programs to those directly affected by the attacks.
Alternatively, did you know that you can make a gift through your estate planning? You may consider intentionally leaving a gift to specific survivors, families of victims, or charitable organizations through a trust account or through a charitable bequest in your last will and testament.
We know how overwhelming September 11th can be each year. Did this article raise more questions than it answered for you? Do not wait to contact us with your questions or to share more ideas about providing support to survivors and the families of victims of the attacks.