SPECIAL NEEDS TRUST
GIVES AN ADDED BOOST
TO YOUR LOVED ONE
By Martha A. Churchill
Attorney at Law
Have you been told that your
son or daughter, who has a disability, is not allowed to inherit
money? It's true, an inheritance will interrupt his
or her SSI and Medicaid. Therefore, someone who is disabled
cannot inherit more than $2,000 because it will interrupt
his or her government benefits.
There is an easy way around
this problem. You can leave money for your son or daughter,
without interfering with the public benefits. Just ask
your attorney for a Special Needs Trust.
There are three main types
of special needs trusts. For an explanation of the types of
trusts available, click on 3 types.
If you set up a special needs
trust of this type, the trustee can buy many of the things
your son or daughter will need.
The trust can pay for an advocate
to make sure your loved one gets the services he or she needs
when you aren't there to help out. The trust can pay
for vacations, social events, and sporting goods.
If Medicaid won’t pay for certain
medical care or treatments, the trust can step in and provide
those. Occasionally, people with mental disabilities are targeted
by the police and wrongly accused of crimes; if your son or
daughter has a special needs trust, the trust can pay for
a good legal defense.
The trust can buy a house
for your child to live in, or it can pay for an advocate to
insist that your loved one be granted services by the government,
as required by law.
For people who are not especially
wealthy, a special needs trust is still a good idea.
It can be funded with a life insurance policy. |
