A special needs trust can ensure the financial security of your loved one who lives with a disability. When establishing a special needs trust, it’s in your best interest to hire a qualified team that can work with Medicaid and Supplemental Security Income (SSI) to protect any needs-based supplemental income received from the government.
Working with Medicaid and SSI
Any time someone who lives with a disability receives a large inheritance or source of income, their ability to receive Medicaid and SSI benefits is jeopardized. This is because many government assistance programs were designed to benefit low-income individuals, and if the beneficiary possesses more assets than the permitted monetary value, these benefits may be taken away.
Establishing a special needs trust allows you to leave assets to a trust, rather than to a specific individual. This allows you to provide your loved ones with financial security without sacrificing their eligibility for governmental assistance.
The Benefits of a Special Needs Trust
In addition to preserving your loved one’s ability to receive Medicaid and SSI, a special needs trust provides funds for nursing care, medical needs, dental expenses, dietary needs, and any therapies or rehabilitation programs the person requires. A special needs trust can also make money management significantly easier on your loved one’s caretakers.
Our team at Legacy Enhancement Trust can help you establish a special needs trust for your loved one who lives with a disability. We’re capable of working with Medicaid and SSI on your behalf, and we know how to protect your loved one’s access to government programs and benefits.
Contact Legacy Enhancement Trust at (888) 988-5503 to learn how we can assist you today.