Special Needs Planning For A Family Member With Disabilities
If an individual is disabled, it is important to plan for their future. If they receive any type of financial assistance from government programs, there are often limits as to the assets they can maintain. The creation of a special needs trust may allow the disabled individual to protect assets and still be eligible for government benefits.
Maureen L. Anderson assists families with special needs planning and Medicaid eligibility to anticipate government assistance and ensure that a loved one with disabilities is cared for. She can address special needs trusts in conjunction with other estate planning services such as a will and powers of attorney.
What Is A Special Needs Trust?
A family member with developmental disabilities or other disabilities may need institutional care or assisted living care. But that person will not qualify for Medicaid assistance if they have any significant assets or income. A special needs trust or supplemental needs trust protects assets and sets money aside to be used on behalf of that disabled individual without jeopardizing their Medicaid status.
The trust fund provides for travel, spending money, furnishings and other quality of life extras that are not paid by Medicaid or provided by the care facility. Expenditures are authorized by a trust administrator (trustee).
Future Care For A Disabled Loved One
Additionally, it is important for families to plan for the future care of a disabled family member, in the event they are not able to provide that care themselves. In some instances, a guardianship is necessary to ensure continuing care and supervision of the disabled individual.
Talk To An Experienced Special Needs Planning Lawyer