Maintaining Your Loved One’s Quality Of Life Through A Supplemental Needs Trust
If you are the primary caregiver for a special needs adult who receives Medicaid assistance, careful estate planning is critical. Working with a knowledgeable attorney today can help you create a strategy for maintaining your loved one’s quality of life when you are unable to do so.
Supplemental needs trusts can be used to disburse funds to Medicaid recipients for life-enhancing expenses without threatening the recipient’s eligibility. Since 1977, our Staten Island attorneys at Corash & Hollender, P.C., have provided strategic counsel to clients struggling with complex estate planning issues. They are able to create the appropriate trust for your loved one’s financial needs.
Medicaid And Supplemental Needs Trusts
Medicaid, Supplemental Security Income (SSI) and other government programs can provide a financial lifeline to disabled adults and their caregivers. It can take months to qualify for this assistance. Unfortunately, it can take only one financial misstep to put these benefits at risk. Bequeathing property or assets to a Medicaid recipient could disqualify the recipient from receiving government support.
A well-designed and properly funded supplemental needs trust allows you to pay for expenses that are not covered by government programs without endangering your loved one’s eligibility. Through this trust, beneficiaries can receive money for experiences and expenses that make their lives more comfortable.
These expenses can include:
- Vacations and travel
- Vehicles and vehicle maintenance
- At-home attendants
- Dietary needs
Our attorneys can help you establish a trust that addresses your concerns and meets loved one’s needs. They can educate you on the best practices for funding the entity and administering it. With their assistance, you can feel confident that your loved one will have the means to live a full life.
Speak To A Knowledgeable Lawyer Today
We want to help you make smart choices about your loved one’s future and answer any trust-related questions you have. Please contact us today to arrange your free consultation. You can reach our office online or by calling 718-442-4424.