What is a Special Needs Trust? California Trusts Attorney

Have you heard of a Special Needs Trust? Do you think you may need one for a loved one? Do you know how it works?
A Special Needs Trust or Supplemental Needs Trust is a special trust created for a loved one who is currently receiving or will receive Supplemental Security Income (SSI) and/or Medi-Cal.
Why is there a need for a special trust ?
In order to qualify to receive SSI and/or Medi-Cal the recipient can only have minimal financial resources. That means if you leave an inheritance to the person, he can be at risk of losing his SSI or Medi-Cal benefits. So, although your intentions are good, you must plan very carefully, otherwise, you may cause the person to be disqualified from the benefits they are receiving.
The Special Needs Trust allows you to leave the inheritance to the person without jeopardizing your loved ones benefits. They will continue to receive their benefits and have their inheritance as well.
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