Do you have a loved one in your life who is disabled? Do you want to leave money or property for them after you die? If so, you will need to include a special needs trust in your estate plan. Without a special needs trust, your loved one might be ineligible for Supplemental Security Income (SSI) and Medicaid benefits.
Let’s say you want to leave your loved one $10,000 in cash upon your death. Gifting this much money would disqualify your loved one for SSI or Medicaid benefits. To get around this issue, you need to create a special needs or supplemental needs trust. By putting all of the property and money you want to leave to your disabled loved one into one of these trusts, your loved one won’t have to claim it when they attempt to recover SSI and Medicaid benefits. Although the trustee can’t distribute the money directly to your loved one (doing so would jeopardize their benefits), the trustee can still spend the trust assets to pay for:
- In-home care
- Home furnishings
- Medical expenses
- Dental expenses
- Physical rehabilitation
- Education
- And more
Do I Need an Attorney?
Establishing a special needs trust that covers all of your loved one’s interests can be a complicated matter if you are not familiar with estate law. That is why you should consult with an experienced lawyer to discuss the detail of your situation. At Fitzpatrick Santos Sousa Perugini P.C., we are committed to making sure our clients understand all of their legal options, and we are prepared to guide you through each aspect of your case.
If you want to create a special needs trust for a loved one, give us a call today at (203) 583-8299 to request your free consultation.