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Individuals With Disabilities Can Now Set Up Their Own Special Needs Trusts

Special Needs Trust, Jeyaram Associates, Disability, Wills, The Centers for Medicare & Medicaid Services (CMS) issued a letter providing guidance to states indicating that individuals with disabilities can now set up their own special needs trust.

Prior to this guidance from CMS, only guardians, caregivers, family members or other third parties could set up a trust on behalf of the individual with a disability.

This is a step in the right direction in allowing people with disabilities to advocate for themselves and be self-reliant to the greatest extent possible.

Individuals with the cognitive ability to set up their own Special Needs Trust and who are under the age of 65 can now create a trust to set aside assets without negatively impacting their eligibility for Medicaid.

Why A Special Needs Trust?

Eligibility for many government benefits is determined based on the resources an individual with a disability has in his or her name.

If a loved one has too many resources, even by just one dollar, he or she may not qualify for, or may even lose, benefits such as Supplemental Security Income (SSI) and Medicaid.

Even if your loved one does not currently receive government assistance, he or she may need it in the future.

A special needs trust is a way to protect your loved one’s current resources and future benefits.

Through a special needs trust you can leave assets to your child or ward without negatively impacting his or her government benefits.

How Funds From A Special Needs Trust Can Be Used

Government benefits only cover basics such as medical care, food, clothing, and shelter.

Through a special needs trust, a designated trustee for your loved one will be able to provide your child or adult ward with access to things such as:

• a personal care attendant

• out of pocket medical and dental expenses

• vacations

• home furnishings

• vehicles

• hobbies

• education

How To Set Up A Special Needs Trust

A special needs trust is usually part of a comprehensive Special Needs Estate Plan. Our Special Needs Estate Plan includes:

•  Last will and testament

•  Advanced medical directives

•  Financial and durable powers of attorney

•  HIPAA waivers

•  Legacy statement

•  Letters to guardians

•  Child safety and protection cards

•  Original document storage in our vault

•  And, perhaps most importantly, guardianship designations for minor children

We Can Help

We’ve helped hundreds of families set up Special Needs Trusts. As the parent of a child with disabilities, we understand the need to protect your child’s current or future government benefits financial future.

I can be reached at DJ@JeyLaw.com or 678.325.3872.

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