|Lynn A. Dean,|
Estate Planning Attorney
A Special Needs Trust allows the individual with special needs to receive income from the Trust without impacting their federal eligibility for income dependent benefits, like Supplemental Security Income (SSI) or Medi-Cal. Assets held in this type of trust do not qualify as available income when calculating eligibility, as the funds are not considered to be within the recipient’s direct control.
Set at just 2/3 of the poverty level, SSI alone is not enough to cover someone’s minimum needs. Without this type of trust, your loved one with special needs will likely face enormous hardships after your death, depleting funds from their inherited estate within just a few years. A Special Needs Trust allows them to draw on federal financial benefits in addition to drawing income from the estate.
The Law Office of Lynn A. Dean regularly works with families to structure estate plans that help them easily manage personal or business financial assets to achieve their long-term goals. For more information on special needs trust, click here.