Special Needs Trusts- Attorney Richard La Belle part 5

Special Needs Trusts
If you leave a person with disabilities more than 2,000 they will lose their benefits until they "spend down" their money.
Avoid the need for a "spend down" with a special needs trust.
Special needs trusts are not a loophole or a gimmick. They are specifically authorized by Federal and state statues.
Why should I worry about this? I don't have any money.
A special needs trusts will protect your child's benefits.
Consider purchasing a life insurance policy to fund the trust. A simple term life insurance policy can be as low as $10 per month.
Creat a fund for when you won't be there- when your child will need it the most.
Think about the alternative of not setting up a trust. Your loved one with disabilities will end up, when you're gone, probably receiving enough assets to kick them off of their benefits.
The effort you put in on the front end will pay off in the benefit to the person with disabilities in the end.

Category:

Nonprofits & Activism

Tags:

• Medicaid
• Med
• Waiver
• Disabilities
• APD
• Agency
• for
• persons
• with
• disabilities
• Delmarva
• wills
• trusts
• guardianship