There are many different types of special needs trusts. While each is intended to accomplish a specific goal, in general they seek to maintain eligibility for means tested government assistance programs, including Medicaid and Supplemental Security Income (SSI). In addition, special needs trusts can create a fund to supplement the services and/or care not provided by means tested programs.
You should know that the proper design and implementation of a special needs trust is quite complicated. There are many different Medicaid and other public assistance programs available, each with its own set of rules for eligibility. The care requirements for a person with special needs also change over time. So, too, do the financial resources of the special needs person’s family, the laws surrounding eligibility, and the benefits available.
If you are caring for a person with special needs, please contact us for an initial consultation. We welcome the opportunity to discuss your unique situation and help you obtain the assistance you need.