Inheritance Issues

Inheritance Issues

If you have an inheritance, you might be wondering how those funds could impact your trusts, disability benefits, or even your Medicaid. Receiving an inheritance can be an enormous gift, but the way in which you manage those funds can have a significant impact on your financial interests and future security. If you’re dealing with inheritance issues, no matter how complex, our team at Legacy Enhancement is here to help.

At Legacy Enhancement, we know how challenging money management can be. Our team is dedicated to helping our clients find peace of mind through smart trust solutions, including pooled special needs trusts and minor's trusts. Whatever your needs, we want to help you find the best solution.

Call (888) 988-5503 to discuss your inheritance problem with our team at Legacy Enhancement.

Will an Inheritance Affect My Disability Benefits?

Anyone who currently receives disability benefits, whether through SSI or SSDI, knows that there are several factors the Social Security Administration considers before they grant specific benefits. If you receive an inheritance, your SSDI should not be affected—this program is specifically based on needs, not on income. However, your SSI benefits could be affected by an inheritance because it would be viewed as an additional income. Because SSI is based on financial need, a large inheritance could make you ineligible for continued SSI benefits.

If you currently receive medical benefits, either through SSI or SSDI, you need to discuss your situation with our experienced team right away. We have ample experience handling inheritance issues, and we can help you fight a solution that secures your finances and helps set you up for a secure, comfortable future.

Understanding Medicaid and Inheritance

Medicaid helps provide millions of Americans with health coverage that they might not receive otherwise, especially pregnant women, low-income adults, the elderly, and people with disabilities. Unfortunately, because Medicaid has strict income rules, anyone who receives an inheritance while on Medicaid could potentially lose coverage.

If you are on Medicaid and you recently received an inheritance, or you expect to receive one soon, our team at Legacy Enhancement is prepared to help.

Get Professional Assistance for Inheritance Matters

Legacy Enhancement is committed to helping disabled and special needs individuals, as well as their caretakers, as they navigate the complex issues that come with financial planning, trust management, investing, and so on. If you are receiving an inheritance and you’re concerned about how it could affect your current situation or your future, let our team of professionals find a solution for you.

Contact Legacy Enhancement today to discuss your situation with our team.

Commonly Asked Questions

How can an inheritance impact my financial planning?

Receiving an inheritance can significantly affect your financial planning, particularly if you are already managing trusts or benefits like SSI or SSDI. The financial implications can vary, such as increasing your income level, which may affect your eligibility for benefits. It is crucial to consult with financial professionals who understand how inheritances interact with existing financial plans. At Legacy Enhancement, we provide tailored solutions to help you integrate your inheritance into a smart financial framework, securing your future and ensuring compliance with any applicable regulations.

What are the best strategies for protecting an inheritance while on Medicaid?

If you are on Medicaid and have received an inheritance, you may be concerned about losing your coverage due to income limits. One effective strategy is establishing a special needs trust. This trust allows you to manage the inheritance without affecting your Medicaid eligibility. At Legacy Enhancement, we can help you understand your options and guide you through the process of setting up a trust that will protect your benefits while also allowing you to access your inherited funds responsibly.

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