If you are a parent or primary long-term caregiver of a disabled family member, a plan can be put in place to ensure unique physical, financial, and health care needs are met when you can no longer provide for them. A special needs trust, powers of attorney, and other documents with distinctive language can protect a beneficiary with a disability. It allows them to utilize government assistance while protecting inherited assets.
Gifting money and assets directly to those with special needs may disqualify them for essential benefits under the Supplemental Security Income (SSI) and Medicaid programs. Since these benefits only cover the bare necessities such as food, housing, and clothing, you’ll want to find a way to provide the resources necessary for them to enjoy a richer quality of life. Fortunately, we can make sure that assets held in trust to benefit a recipient of SSI and Medicaid will not affect eligibility requirements.
Establishing a special needs trust early on is how your loved one can receive funds from gifts, bequests, or lawsuit settlements without affecting their government benefits.
We can help you provide better care for your family member with years of experience to establish an effective special needs trust. You’ll be able to use more of your money to supplement your disabled beneficiary’s quality of life instead of paying for expensive private care.
The estate planning and elder law attorneys at Turning Point Legal have broad expertise and experience helping families protect valuable assets in the state of Alabama. They provide elder law and estate planning services, including special needs, Medicaid qualification, long-term care, and estate administration.
Contact us to learn more about our Special Needs Trust services in Alabama.
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Guntersville, AL 35976
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