Special Needs Trusts
For many disabled people, medical benefits and supplemental security income are incredibly important. But when they come into money – via an inheritance, prize winning, or back pay from social security – their benefits may be at risk.
Under the Social Security Administration’s rules, a disabled person will only be able to qualify for Supplemental Security Income and medical coverage if non-exempt resources do not exceed $2,000.00. In order to avoid the government terminating these means tested benefits, we work with our clients to establish special needs trusts in order to shelter the excess money while allowing them to continue collecting means tested benefits from the government. Also, we have experience establishing ABLE accounts for his disabled clients. ABLE accounts allow disabled individuals to build up a savings. ABLE accounts can hold up to $100,000.00 for the disabled person’s use while still maintaining means tested government benefits.
Contact to speak with a special needs trusts lawyer about your financial situation. Our firm is available to advise clients throughout Southern Illinois.