Special Needs Trusts & Planning
In many cases, having a Special Needs Trust can make the difference between being eligible for government benefits and not being eligible. Supplemental Security Income (SSI) and Medicaid are benefits available to adults who have less than $2,000 to their name, not counting a home, a vehicle, and some other personal items. Since a trust is technically a separate entity from the person whom it benefits, an individual with disabilities can have a trust for their benefit without the assets in the trust counting as their own. What type of trust is created depends on certain things, like whose money is going into the trust, and what benefits the disabled individual may want to receive in the future.