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Four Tips on Creating a Special Needs Estate Plan

Blind young man

By: Michael W. Gadomski, Esq.

Public benefits enhance the quality of life for people with disabilities yet eligibility for SSI or Medicaid is based on the financial value of assets the persons possess.  So what if parents or grandparents wish to set aside additional financial resources for a child or adult with a disability while maintaining their loved one’s eligibility for public assistance?

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Daunting Problems That Arise When Parents Serve as a Supplemental Needs Trustee

It is common for a parent to want to be named as trustee of a supplemental needs trust benefitting her child, especially when the parent is the one creating or funding the trust. There are many reasons why this makes sense. It positions the parent to have complete control over trust distributions. It is also very unlikely that anyone else can match the loyalty and dedication that comes from the bond between a parent and child. The parent is almost always the individual most familiar with the child’s specific, unique needs that the trust must seek to fulfill in its administration. Another advantage is that the parent will usually work without compensation.

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How to Use Money for a SNT Beneficiary Without Disrupting Their SSI

One of the first questions clients ask when discussing a special needs trust is how the money can be used for the beneficiary.  It is crucial to be careful when making distributions for the benefit of the trust beneficiary.  This is particularly true if the beneficiary receives Supplemental Security Income (SSI) because any distribution could potentially violate Social Security’s rules regarding unearned income for SSI recipients. If a distribution runs afoul of these rules, the Social Security Administration will treat the distribution as unearned income on behalf of the beneficiary and reduce the beneficiary’s income dollar-for-dollar after the first $20 of the distribution.

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Creating a Future Care Plan for Your Loved One With Special Needs

Many clients rightly consider establishing a Supplemental Needs Trust (SNT) to address the legal and financial needs of their loved ones with disabilities.  However, in addition to these immediate concerns, it is important to consider how much care your loved one may need in the future and who will oversee any arrangements relating to that care.  

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Children With Special Needs May Receive Medicaid Coverage for Home Care Despite Parents’ Assets

If you have a child with special needs who requires an institutional level of care that can be provided in your home instead of in a hospital or other institution, the Katie Beckett Medicaid Waiver program may allow you to keep your child at home, even if you think that your assets are too high to qualify for Medicaid.

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Seven Events That Require an Immediate Call to Your Special Needs Planner

It is a great feeling to have your special needs plan in place for your loved one.  But, like all good plans, it may need to be adjusted as your circumstances change, especially with special needs plans that last a life time.  So, it is important to have your plan reviewed periodically by a competent special needs attorney.  If you haven’t had your plan reviewed recently, here are 7 events that may require changes to your plan.

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