PLANNING FOR DISABLED CHILDREN
You can provide for disabled children in your Will without risking government benefits they are receiving by creating a Special Needs Trust. This trust legally permits you to provide for them without the risk of loosing their benefits such as Medicaid, Social Security Income or Disability Benefits.
The purpose of a special needs trust is to supplement a disabled person's income in order to pay for their wants and needs not covered by government benefits.
The trust usually covers things like education, clothing, recreation and uncovered medical care, etc. however there are limitations such as a payment from the trust for the beneficiaries food and/or shelter will reduce the amount of Social Security Income received.
These trusts are excellent ways to preserve the benefits of someone with special needs and at the same time maintain or increase their quality of life.
P r e v i o u s P a g e