Special Needs Planning
Most parents of children with special needs understand the importance that special needs trusts play in the financial security of their child.
In situations where a person with disabilities is determined to have too much money/assets in his/her name, the government will determine the person is ineligible for vital government benefits such as Medicaid and SSI.
Because assets are held in a trust, and therefore are not considered assets for the purposes of determining a person’s wealth, special needs planning can help eliminate the problems created by “having too much.” Given the reality that assets placed in a special needs trust are not considered when determining if a person is eligible for government benefits, a special needs trust can mean the difference between being “able” and being “unable.”
A Special Needs Trust (SNT) affords disabled peope with the opportunity to maintain eligibility for public assistance benefits, despite having excessive assets that would otherwise make the person ineligible for these government benefits.
