1st Party Special Needs Trust to Receive an Inheritance While on Public Benefits

[@jillr759]

Content like this is more important than most realize. Special needs parenting can be scary but it doesn’t have to be if your educated! I’ve never slept better with my new knowledge from #EllenCookman videos! Don’t miss a single one to make sure your on the right path. We have a CALable thanks to Ellen.

[@marymotherofgod4861]

Ellen ❤

[@pamelawayne4114]

thank you. invaluable information

[@timothystacks7284]

Is there a limit on how much you can have in your saveings account when geting ssdi benfits is my question.

[@ellencookman-EstatePlanningSNT]

SDI does not look at your “resources”, that is, the amount of money in your bank account, for eligibility purposes.

[@HersheyBar]

Does this matter if it is related to Florida or California in regards to first party or third party trust?

[@ellencookman-EstatePlanningSNT]

Public benefits laws in California and Florida are different, so you should check with an attorney in the state where you are located for laws enforced there.

[@HersheyBar]

@@ellencookman-EstatePlanningSNT yes, definitely can understand I figured this much, but appreciate your answer regardless. It's just hard when you lose someone, and hear yourself also have your various abilities or rather disabilities, but I appreciate it

[@saimaanisshaikh7487]

Is there a Canadian first part Trust or equailvent for those who live in Canada?

[@ellencookman-EstatePlanningSNT]

Unfortunately I’m not familiar with Canadian law. You should check with a special needs planner in Canada on this.

[@BombFiya]

when will the new limit increase take effect

[@ellencookman-EstatePlanningSNT]

The Medi-Cal asset limit will be increased from $130K/person to infinity (i.e. will go away) Jan. 1, 2024.

[@BombFiya]

so right now only able to have $2,000 dollars asset limit currently and Jan 1 2024 will increased to 100k limit ? just to be clear ,and thanks in advance

[@mikeebbert500]

need to know the rules regarding social security Survivors and inheritance

[@kurtcastleman8677]

what do you mean by needs based public benefits? How does inheritance affect the government paying for your part b premium as well as food stamp is that what you mean by needs-based?

[@ellencookman-EstatePlanningSNT]

Needs-based” public benefits are those benefits you “need” because you’re considered poor, that is, you need to have under a certain amount of resources in order to qualify. For example, Supplemental Security Income (SSI) is needs-based because, in order to qualify, you can only have up to $2K of countable assets.

[@tiffanythomas453]

What if Person Receive SSI but also has payee what should they do about inheritance

[@ellencookman-EstatePlanningSNT]

If you’re receiving an inheritance directly, you’ll most likely need a First Party SNT to hold the inheritance. If you’re in CA, you and/or your payee can reach out to our office and we can help you with this.

[@kurtcastleman8677]

What if your premium for part b is paid for cuz you're on SSDI and low income but you get inheritance how does that affect the paid for premium?

[@ellencookman-EstatePlanningSNT]

SSDI only looks at the income that you earn from a job, not at passive income (like from an inheritance). So if something is being paid for by SSDI, your SSDI (and thus premium payments) shouldn’t be impacted by an inheritance.

[@mechelebolton332]

what if you get both ssi and ssdi...ssdi being the larger check each month

[@ellencookman-EstatePlanningSNT]

If you want to preserve your SSI benefits, you’ll need a 1st party SNT. If you don’t set up a 1st party SNT, you’ll likely lose the SSI benefits but you can still keep the SSDI benefits

[@mcastle04]

hello, thanks so much for this very informative video. my neighbor is in similar situation, what do you recommend to those who are no longer eligible for the SN trust due to age and who will be receiving just way below $100k inheritance? I hear irrevocable trust or “spending down” are other options? From your experience, when can the recipient re-apply. thank you.

[@ellencookman-EstatePlanningSNT]

If your neighbor is age 65 or older, they can look into a pooled trust in their area. I’ll be making a video on this topic in the next few months. 😊

[@mimiserles5363]

My son is disabled (receives SSI) and my mom just died. She named him as a beneficiary in her living trust, but didn't specify a special needs clause for his inheritance. I have a living trust with provisions for my son (SNT language). What can we do so he can inherit his money from my mother without losing his SSI? He has a CalAble account, but the trust attorney will not deposit that money into his account. If he receives the money he will lose his SSI even if he moves it to the CalAble account the next day. They tract his resources/assets and will see he has over $2,000 in the account. I don't want him losing even $1 of his SSI or benefits, even just for that month when he is over the resource limit. I am getting the run around from my trust attorney company. What can I do before the money is disbursed???? My brother says to just forfeit my son's money because it isn't worth fighting for.

[@louisvuitton1584]

Why not open an account in your name and just put it in there?

[@strajearocks11]

I'm in a terrible bind. I'm so concerned. I live in Illinois . What do I do?

[@ellencookman-EstatePlanningSNT]

I’m sorry to hear this. I suggest you reach out to an attorney who specializes in special needs planning in your area. Here is a website with special needs planners all over the US: specialneedsanswers.com/illinois-special-needs-planners/chicago

[@WanonaS]

What if a person refuses the inheritance or don't go get it?

[@ellencookman-EstatePlanningSNT]

It’s my understanding that a “disclaimer” of an inheritance counts as a gift, and can lead to a lengthy disqualification period from SSI.

[@AlexShantyOldLawModel]

Good afternoon ancestor client elder grantor grandparents would like to know what is the Difference between your special needs trust and a living trust with with lifetime funding special needs provisions? Does it have Traditional Law Model Template Schedule Scenario Clauses with provisions to care for special needs children? With backup New Law Model Fiduciary Security Allied Legal Professional teams of 9 to 25 Mentors, Life coaches, monitored permission validation ledgers, arbiters, and backup fiduciary security successor trustee referees? To protect our successor client heir grantee beneficiary seniors and special needs children and caregivers from Trust fraud.