Under Medicaid/Medi-Cal regulations, the program is required to seek reimbursement from the estates of people who used their services. Since you cannot qualify for Medicaid/Medi-Cal if you have significant assets in your name, the cupboard is usually bare so to speak. The situation is different with a Supplemental/Special Needs Trust. If you fund this type of trust for the benefit of someone else, it would be a Third-Party Supplemental/Special Needs Trust. When you establish a Third-Party … [Read more...] about Who gets the remainder that is left in a supplemental needs trust after the death of the beneficiary?
As a response to the eligibility situation, you could establish a Third-Party Supplemental/Special Needs Trust for the benefit of a loved one with a disability or who is eligible for needs-based government benefits. You would name a Trustee to act as the administrator or manager of the Trust. This can be someone that you know personally, or you may use a professional trustee such as a private fiduciary or the trust department at a financial institution. The beneficiary would never be able … [Read more...] about What’s the solution?
There nothing stopping you from doing this, but in many cases, it could cause more problems than it solves. Obviously, health care insurance is very important for people with special needs. Most Americans get their coverage through their employers, and a high percentage of people with disabilities cannot work. The solution for many is Medicaid, which is a need-based government health insurance program which has been implemented in California as Medi-Cal. Supplemental Security Income is … [Read more...] about Why can’t I just name someone with a disability in my will or Trust?