ESTATE PLANNING FOR FAMILY MEMBERS WITH DISABILITIES CAN BE A CHALLENGE
If you want to leave money or property to a loved one with a disability, you must plan carefully. Otherwise, you could jeopardize your loved one’s ability to receive Supplemental Security Income (SSI) and Medicaid benefits.
A ‘special needs trust’ can be created for a person under the age of 65 with disabilities. If you are disabled, federal law permits you to transfer your own funds into a specific type of trust that will not jeopardize eligibility for government benefits.
Assets transferred to a special needs trust will not create a period of ineligibility nor be treated as an available resource for public benefits purposes.