Disabled beneficiaries who directly receive an inheritance
risk losing their government benefits. A special needs trust
is an irrevocable trust that helps protect the disabled
beneficiary. Your loved one continues to qualify for
government support, but also benefits from your wealth.
Keep in mind that there may be many people who have your
disabled loved one in their plans. No matter how
well-meaning, folks who leave money directly to your
disabled loved one jeopardize his/her government benefits.
You may set up a SNT now, to catch any inheritances or gifts
that you and others wish to make to your disabled loved one.
Funds in the special needs trust can pay for care that
Medicaid and other programs do not. Dental work, eyeglasses,
dedicated therapies'your loved one obviously benefits from
these. But don't forget other quality of life issues, such
as travel, education, and music. Properly drafted, a special
needs trust can open doors for your loved one that you may
not imagine. |