Special Needs Trusts are a great tool for protecting your disabled relatives and ensuring their eligibility for valuable Federal Medicaid programs. This article is designed to inform you as to how these trusts are created and administered, and most importantly, to inform you of the benefits of these Special Needs trusts. If you are looking for a Medicaid attorney in Atlanta then you can search various online sources.
Certain disabilities may qualify for federal benefits, including financial support and reimbursement for medical expenses. Medicaid is a program set up by the US government to help low-income individuals. It is not to be confused with Medicare, which is federal health insurance for the elderly. Individuals must be below certain income and resource thresholds to be eligible for various Medicaid programs.
Medicaid eligibility can be difficult for the disabled when their parents or relatives leave an inheritance. It is possible that the assets inherited by the child will prevent them from continuing to receive federal aid. These assets can be transferred to a trust for the child with disabilities, which preserves their eligibility for federal benefits.
These trusts permit assets to be restricted for the specific needs of disabled children. The trust assets will be used to supplement government benefits, not replace them. This is the most common restriction on special needs trusts.