Proper planning with a Special Needs Trust will avoid unintended consequences. Here are five things everyone ought to know about Special Needs Trusts:
- 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.
- You can avoid the potential of having to “pay back” the government for the cost of the beneficiary’s care.
- You provide for appropriate money management without having to go through more complicated legal processes, such as probate.
- A Special Needs Trust provides a mechanism for other family members to benefit a child with special needs.
- 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.