Many people with disabilities rely on government benefits like Medi-Cal and Supplemental Security Income. These programs are designed to assist people with significant financial need.
If you were to leave a direct inheritance to someone who was receiving government benefits, your act of generosity could yield unintended negative consequences. The inheritance recipient could lose benefit eligibility if he or she was to be lifted into a stronger financial position.
Supplemental Needs Trusts
It is possible to provide for someone with a disability who is receiving government benefits without jeopardizing his or her benefit eligibility. This is typically accomplished through the utilization of a legal device called a special needs or supplemental needs trust.
The trustee that is named in the trust agreement can use assets that have been conveyed into the trust to provide for the supplemental needs of the beneficiary. These would be needs that are not met by government benefits. These expenditures would not impact benefit eligibility.
Free Report on Special Needs Planning
To learn about special needs planning in-depth, download our informative report on the subject. This report will provide you with a great deal of foundational information. The report is complementary, and you can obtain access to the download with a couple of mouse clicks.
Visit this page to get your copy of the free special report: Special Needs Planning Report.
Special Needs Planning in San Jose, California: Free Consultation
Providing for a loved one with a disability is a delicate matter. If you would like to discuss your estate plan with a licensed attorney, our firm can help.
We offer free special needs planning consultations to people in the greater San Jose area. If you would like to set up an appointment and learn about special needs planning in San Jose, California, contact us through this website or call us at (408) 356-9200.
Click here to visit our Special Needs Consumer Resources Page: Special Needs Consumer Resources Page
