Special Needs Trusts in Boca Raton
When someone with a disability receives SSI or medicare, there is a limit on their savings and income. If they get an inheritance or any large lump sum of money, this can put their benefits in jeopardy. Using a Special Needs trust as part of an overall Estate Plan ensures this does not happen.
A Special Needs trust is a particular type of trust that holds funds for the benefit of your loved one with a disability and manages the money on their behalf. Since they won’t have direct control over the funds, they remain eligible to receive medicare and SSI benefits.
Don’t jeopardize your loved one’s benefits. The Siegel Law Group is dedicated to providing personalized and compassionate legal services. Call us today.
What can a Special Needs Trust pay for?
The funds in a Special Needs trust are discretionary, and while the beneficiary does not have control over how they are used, the trustee can use the money for the beneficiaries benefit on a variety of expenses.
Common goods and services paid for by a Special Needs trust includes things like education and books, vacations or travel, clothing, household furnishings, and personal care items.
The trust can pay for all of these items and more, while still allowing the beneficiary to receive SSI and medicare to pay for medical care and housing.
Planning for the care of another person is daunting.
Who will provide care to your loved one if something happens to you? A common and understandable fear for many caregivers is what will happen when they can no longer provide care.
A Special Needs attorney can bring peace of mind by creating a plan tailored to your family. Giving you the security and assurance that your loved one will be in capable hands and have funds available to meet their needs, whatever they may be.
Don’t jeopardize your loved one’s benefits. Call or chat with us today. The Siegel Law Group is dedicated to providing personalized and compassionate legal services.
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