Why You Shouldn’t Hesitate to Form a Special Needs Trust
It is important to understand that if a person relies on a “needs” based programs such as SSI (Supplemental Security Income) and/or Medi-Cal, the benefits they receive could be terminated if the special needs candidate receives a money judgement, gifts or an inheritance. This is where a special needs trust comes into play.
A special needs trust can play an instrumental role in protecting a loved ones from loss of benefits due to an gifts, inheritance or litigation money judgement. The DRAFTING OF A special needs trust can help ascertain the funds will always be used wisely and will be in no danger of being scrutinized by government regulations.
There are certain prerequisites that must be met when applying for SSI or Medi-Cal – which primarily entail stringent property and income specifications and requirement. You run the risk of voiding a special needs person benefits should he receive a gift, money judgment, or inheritance, which is why the best way to indirectly and legally receive any “gifts”, “money judgment”, or “inheritance” is through a special needs trust. Assets can be safely placed in the trust to be used for the benefit of the disabled individual while preserving government benefits.
Moreover, the downside of SSI and/or Medi-Cal benefits are that they provide just enough support to buy the necessities to survive – such as food and a roof over your head. A special needs trust can transcends well beyond these parameters, especially for those handicapped individuals who require more than just food and shelter. It guarantees the availability of resources to help your handicapped loved one to comfortably live his life.
What Can Cross Law Do For You
At Cross Law, we help families like yours plan for the future well-being of your special needs family member. We understand the complexities of this very complex detailed area of law. We understand that type of planning is very important to your child’s future happiness and we take that seriously. We at Cross Law think that timely communication with our clients is a top priority and we guarantee to keep you informed every stope of the way.
If you have a loved one with a disability, give us a call at 650-503-3078, email us at email@example.com, or fill out the contact form below; we will show you to protect your disabled loved one without any worries.