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If you want to set up a trust to ensure that your disabled loved one receives the support they count on down the road, it is pivotal to understand how special needs trusts work. These trusts help many families who worry about the well-being of an adult or child who has a disability and counts on critical government benefits.

Not only do special needs trusts help those with disabilities from a financial point of view, but they also offer peace of mind. You and your entire family could feel relieved after establishing a special needs trust.

Special needs trusts can protect government benefits

Those with serious disabilities often count on certain public health benefits that help with their finances and medical care. Sometimes, receiving assets from a family member’s estate can disqualify them from continuing to receive these benefits and they become disqualified. According to the Louisiana Medicaid Eligibility Manual, special needs trusts can help disabled beneficiaries retain their eligibility for Medicaid benefits.

In addition, special needs trusts can also help those with disabilities continue to receive SSI benefits they depend on.

Creating a special needs trust

After reviewing all of your options and the circumstances of your disabled loved one carefully, you could determine that a special needs trust is the most effective estate planning option. Make sure you approach the process of establishing a special needs trust carefully, and find answers to any questions you or your loved ones have. The process of setting up an estate plan is often complex, but it can serve as a lifeline later on.

Weems, Schimpf, Haines & Moore | A Professional Law Corporation

Office Relocation on June 1st, 2023!

Please be advised - our office moved on June 1st, 2023. Our new address is 9105 Ellerbe Rd Ste A 100 Shreveport, LA 71106 . Thank you!

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