Benton Special Needs Trust Lawyers
Protecting Supplemental Security Income (SSI) & Medical Coverage for Disabled People
For many disabled people, medical benefits and supplemental security income are incredibly important. But when they come into money—via an inheritance, prize winning, or back pay from social security—their benefits may be at risk. At Levanti Law, our special needs trust attorneys in Benton have the experience to help you protect these assets.
Let us help you preserve your loved one’s benefits by calling (618) 717-4409 to speak to one of our skilled special needs trust attorneys during your consultation.
What Does a Special Needs Trust Do?
Under the Social Security Administration’s rules, a disabled person will only be able to qualify for Supplemental Security Income (SSI) and medical coverage if non-exempt resources do not exceed $2,000.00. A way around your loved one losing eligibility for these benefits is to set up a special needs, or supplemental, trust. Though this, you can leave any excess money or property to the trust as well as designate someone as the trustee. Because the trustee will have complete discretion over the trust property and oversee spending money on your loved one’s behalf, SSI will ignore the trust property or amount for program eligibility purposes.
How Can Trust Funds Be Spent?
Under a special needs trust, the trustee is unable to give money directly to your loved one because it can interfere with eligibility for SSI. However, the trustee can spend trust assets to buy a wide variety of goods and services, such as personal care attendants, vacations, home furnishings, out-of-pocket medical and dental expenses, education, recreation, vehicles, and physical rehabilitation for your loved one.
In addition to assisting you set up a special needs trust, we also have experience establishing ABLE accounts for disabled clients. ABLE accounts allow disabled individuals to build up a savings and can hold up to $100,000.00 for the disabled person’s use while still maintaining meanstested government benefits.
Call (618) 717-4409 to schedule a consultation with a special needs trust lawyer about your or your loved one’s financial situation. Our firm is available to advise clients in Benton and throughout Franklin County.