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Thinking about leaving an inheritance to a disabled loved one? Well, if not carefully planned, your good intentions might disqualify your loved one from receiving Medicaid or Supplemental Security Income (SSI) benefits. A way you might avoid this type of problem is to set up a Special Needs Trust. The Berman Law Group Special Needs Trust attorneys can assist with preparing the documents to ensure you are protected from any unnecessary expenses related to medical care. They will also educate you on the special needs trust fairness act and the requirments.
Owning a house, furniture, a car, or common personal effects do not affect someone's disability qualifications. However, if you left them money in your will without a special needs trust, they might lose their Medicaid and SSI benefits. Boca Raton trust attorneys can help you specify how the assets are to be administered and choose a trustee to manage your special needs trust. Your loved one will not have at-will access to the money. Therefore, Medicaid and SSI do not consider the special needs trust in determining benefits eligibility. The trustee does not give the money directly to your loved one. Instead, the trustee will spend the trust assets to provide services or purchase goods for your disabled loved one.
For one, the state of Florida is specific as to the language in a Special Needs Trust in that the language must abide by the law governing Florida needs trusts. The trust must also be designed as a special needs trust according to specific United State Code. Even more legal requirements must be met to establish a special needs trust in Florida. By asking about your loved one's unique needs and your specifications to provide for them, your Boca Raton special needs attorney will determine if your case meets the requirements to draft a special needs trust and the attorney fees associated. Additionally, The Berman Law Group's attorney can also explain to your trustee how to cautiously avoid penalties in administering the special needs trust. Furthermore, health care and social services rules can change affecting your special needs trust, and your attorney can notify you or the trustee of these changes and clarify how they affect your trust and its assets distribution.