Imagine that your loved one, or you, is living with a physical, mental or intellectual disability. You discover that your assets you have worked so hard to accumulate, an inheritance, or a financial settlement from a lawsuit could jeopardize your eligibility to receive government benefits for your basic care. Unfortunately, this scenario is all too common for people living with disabilities.
Many people, of any age with special needs, are becoming aware of various legal venues they may be able to use to protect their assets and potentially qualify for or maintain needed government benefits.
There are resource organizations focused on helping people, of any age, who are living with a disability, their parents and caregivers, and the professionals who serve and guide them. These organizations help people to become aware and learn about the benefits of Special Needs Trusts while guiding them to qualified professionals who can assist in their time of need. These resources and referrals help individuals plan for the future while maximizing today’s qualify of life.
Determining who to manage a Special Needs Trust is an important part of the Trust procedure. At times, a family member may not be the best choice to serve as trustee over a loved one’s financial assets (the beneficiary). Many people do not have the needed knowledge or competency required to protect the beneficiary’s eligibility for public benefits while using the Trust money for items or services these benefits do not cover. There are companies that can serve as the beneficiary’s professional trustee, thus relieving the burden from a family member or friend.
Know what you are risking by not taking advantage of the protection offered by a Special Needs Trust. Vista Points can connect you to the resources to establish a Special Needs Trust, all with your specific and individual needs in mind.