What Everyone Ought To Know About Special Needs Trusts

Proper planning with a Special Needs Trust will avoid unintended consequences. Here are five things everyone ought to know about Special Needs Trusts:

  1. With a Special Needs Trust you can avoid giving your beneficiary too many “resources” that leave them ineligible for government benefits such as SSI and Medicaid.
  2. You can avoid the potential of having to “pay back” the government for the cost of the beneficiary’s care.
  3. You provide for appropriate money management without having to go through more complicated legal processes, such as probate.
  4. A Special Needs Trust provides a mechanism for other family members to benefit a child with special needs.
  5. A Special Needs Trust is a venue through which the more than 20,000 aging parent caregivers (over age 60) in Georgia,  can plan for assets to be distributed to their adult child with a disability upon their death.

 

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