Special Needs Planning Attorney in Milpitas, California
How can I provide for a loved one with special needs without jeopardizing their government benefits?
How can I provide for a loved one with special needs without jeopardizing their government benefits?
Milpitas, CA estates & probate attorney Elijah Keyes talks about providing for a loved one with special needs without jeopardizing their government benefits. In situations involving individuals with special needs, a primary concern revolves around their potential inability to secure future employment and financial self-sufficiency. These individuals are likely to require essential provisions such as housing, medical care, and sustenance, which constitute their three most significant future expenses. The Federal Government extends support for these crucial needs through various benefit programs.
However, a critical challenge arises when considering financial assistance for individuals with special needs. The provision of monetary assets to such individuals can inadvertently disqualify them from accessing these vital government benefits. To address this issue, specialized instruments like special needs trusts, often referred to as supplemental needs trusts in certain states, are utilized. These trusts serve as vehicles for holding and managing funds on behalf of individuals with special needs, ensuring their continued eligibility for essential benefits.
This approach not only helps ensure that these individuals have a designated decision-maker but also maximizes the likelihood of receiving government assistance. It establishes a reliable safety net to provide ongoing support, even after the primary caregiver or benefactor is no longer present.
