Why Create a Special Needs Trust?
A Special Needs Trust can be an important tool for a disabled individual who is, or may become eligible, for Supplemental Security Income or Medicaid but has excess assets preventing eligibility. Supplemental Security Income (SSI) is the Social Security program that grants income to people who are age 65 or older, blind or disabled with limited income and assets. Medicaid is the state-run federally funded program that pays for medical assistance for certain children, and individuals who are aged, blind, or disabled with limited income and assets. Eligibility for both SSI and Medicaid is based, in part, on the amount of the applicant’s assets. Read More