What is a supplemental needs trust?Published On: 01/09/2018
Supplemental, or special needs, trusts are an estate planning tool that is most frequently used to receive an inheritance or personal injury litigation proceeds on behalf of an individual with a disability, in order to allow the person to continue to qualify for Medicaid benefits.
Supplemental trusts pay for extra comforts or luxuries that can not be paid for by public assistance funds. If money from the trust is used for essential living expenses such as food or shelter of the beneficiary on a regular basis, these payments will count as income to the beneficiary and may affect the beneficiary's eligibility for Medicaid assistance.
Please contact Stouffer Legal for advice on how to incorporate special needs planning in your estate plan.
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