Estate Planning, Special Needs Trusts & Supplemental Benefits Trusts

A special needs trust or supplemental benefits trust is an important estate planning tool to protect a loved one’s eligibility for Medicaid and supplemental security income (SSI).  The special needs trust or supplemental benefits trust can be funded with cash, stocks and CDs, IRA accounts, life insurance, real estate, etc., and the trust fund may be funded by anyone at anytime, or by your last will and testament.  An estate planning attorney can explain the special rules that apply to a special needs trust or supplemental benefits trust and provide comprehensive estate planning lawyer services to meet your needs.

Special Needs Trusts, Medicaid & SSI

Estate planning for loved ones with disabilities or special needs often requires a special needs trust or supplemental benefits trust that has been drafted by an estate planning attorney to protect eligibility for Medicaid and supplemental security income (SSI).  An experienced estate planning lawyer can draft a special needs trust or supplemental benefits trust with the proper terms to prevent payments for items that are, or may be covered by Medicaid or SSI in the future, or other payments that compromise eligibility for Medicaid and supplemental security income (SSI).

Use of Supplemental Benefits Trust

In general, a special needs trust or supplemental benefits trust does not pay for basic needs, like food, clothing, housing, and medical treatment covered by Medicaid.  However, the special needs trust fund may pay for other healthcare costs, such as massage and supplements, alternative medicine and experimental medical treatment, and other expenses that enhance quality of life, such as entertainment, hobbies, recreation and sporting equipment, and vacations (including companion travelers).

Estate planning for special needs, Medicaid, and supplemental security income (SSI) protects and enhances quality of life for your loved ones.  Our Texas law firm advises estate planning for individuals, families with children, and family members with special needs.  Talk with an Austin estate planning attorney today.

Call an Estate Planning Lawyer for a Free Consultation.

512-651-3930

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Tags: WTE

This entry was posted on Friday, July 22nd, 2011 at 11:38 am and is filed under Estate Planning, Wills & Trusts. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.