| If, like Sabina and me, you have a loved one who is | | | | any supplemental needs, such as cable television, |
| disabled, then you know how important government | | | | travel expenses, education, entertainment and the like. |
| assistance programs can be to their well-being. But to | | | | The trust can also provide your dependent with home |
| qualify for these programs, your dependent must have | | | | health care services, a car, clothing and even pay for |
| limited finances. So, any inheritance you leave him or | | | | medical expenses. Just remember than any asset that |
| her could potentially put their eligibility for government | | | | requires a title or deed must be in the name of the |
| assistance at risk. | | | | trust and not your dependent. |
| So, how can you provide for a loved one without | | | | This allows you to ensure that your disabled |
| interfering with government assistance? | | | | dependent is well provided for and enjoys a rich and |
| What you need is a Special Needs Trust. | | | | happy life while still qualifying for those much-needed |
| This unique legal document allows you to provide for | | | | government programs. |
| your dependent's supplemental needs without | | | | Who Should Be Trustee? |
| disqualifying him or her from programs such as Social | | | | Choosing a trustee for a Special Needs Trust is |
| Security and Medicaid. | | | | especially important because the person you choose |
| Upon your death, any funds you intended for your | | | | will have authority and control over the funds in the |
| disabled dependent will be transferred to a special | | | | trust. That means you need to be able to trust this |
| trust, created for the sole purpose of providing for | | | | person completely, especially if your dependent is |
| your dependent. Because the funds are not in your | | | | mentally handicapped and unable to recognize any |
| dependent's name and are managed by a third-party | | | | misappropriation of funds. Many people choose a |
| trustee, your dependent can continue to benefit from | | | | parent or sibling of the disabled person to act as |
| government assistance. | | | | trustee, but you can select anyone you want, including |
| Of course, there are restrictions on what the trust can | | | | a law firm or a financial institution. |
| pay for but in general, you're allowed to provide for | | | | |