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Failing to Make Special Plans for Disabled Children Can Result in a Nightmare Print E-mail
Written by MARTHA JO PATTERSON, ESQ.   

             Did you know that traditional Wills and Trusts leave your money outright to your disabled child?  This will result in a nightmare for the disabled child.  SSI requires that a person receiving SSI have less than $2,000.00 in assets. If a disabled person receives an inheritance they will lose their SSI benefits.  Losing these benefits, especially the medical benefits will result in disaster.  Every dime received in the inheritance will be quickly spent then when the money is gone the person will need to requalify for SSI.

            An attorney who understands public benefits, and planning for the disabled can prepare a special kind of Trust specifically designed to pass an inheritance to a disabled child. These Trusts are called Special Needs Trusts, or Supplemental Needs Trusts (SNT).

            A SNT can be used to provide for many things. The Trustee of a SNT may buy things for the beneficiary such as Wheelchairs, Vans, toiletries, computers, and pay for caregivers with out any reduction in the SSI benefit. A SNT can hold life insurance benefits, 529 plans and can receive IRA benefits in a manner that allows the IRA to be stretched out over the lifetime of a the beneficiary.  The opportunities to assist families of disabled children through the use of SNT’s are many and very rewarding.  The benefits of this kind of Trust can not be underestimated.  If the disabled child does not need all of the money, the inheritance can be distributed at death to the other children or grandchildren.

            A SNT Trust must meet specific requirements in order to protect the disabled beneficiary.  Very few lawyers have understand the rules related to planning for the disabled.  A Trust that is not drafted correctly will end up in Court.  Nightmare Court proceedings have filing fees, annual accountings, and at least two Lawyers each charging attorneys fees. The court will require that the State be paid back.  Thus no one else in your family will ever get any of the money not used by your disabled child.

            FOR A COMPLIMENTARY CONSULTATION TO FIND HOW TO ROTECT YOUR DISABLED CHILD CONTACT Martha Jo Patterson at (866)452-9657 wwwelderlawmom.com

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