what is a special need trust?
DESCRIPTION
You could leave someone with a disability an inheritance by making this individual the beneficiary of a Special Need Trust. Take a more look in this presentation.TRANSCRIPT
WHAT IS A
SPECIAL NEEDS TRUST?
ESTATE PLANNING DEVICES
ESTATE PLANNING is not a one-size-fits-all endeavor
There are different legal devices that are utilized depending on
the circumstances
CONSIDER THE RECIPIENT
When you are planning your estate, you should consider the life situation of each individual
inheritor
The best way to arrange for future asset transfers may differ
from person to person
SPECIAL NEEDS PLANNING
You may have someone with a disability in your family
People with disabilities often rely on government benefits like Medicaid and Supplemental
Security Income
NEED-BASED PROGRAMS
Medicaid and SSI are need-based programs
You cannot qualify if your resources exceed the upper
asset limits
MORE HARM THAN GOOD?
If you leave a direct inheritance to someone who is receiving
need-based government benefits, you could be doing
more harm than good
The influx of resources could render the inheritor ineligible
for need-based benefits
SPECIAL NEEDS TRUSTS
You could leave someone with a disability an inheritance by making this individual the
beneficiary of a SPECIAL NEEDS TRUST
Assets conveyed into the trust can be used by the trustee to
improve the quality of life of the beneficiary
These expenditures do not impact government benefit
eligibility
FREE Indianapolis Special Needs
Planning Consultation
If you have someone with a disability on your inheritance list, contact our firm to schedule a
free special needs planning consultation
