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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.