Providing Assets to a Disabled Person
Many people wish to leave assets to a disabled family member. However, if this is done without good planning, the gift can result in your family member becoming ineligible for government benefits such as Medicaid.
By placing the money in a special needs trust, you can provide supplemental income to a disabled person without causing him or her to become ineligible for government benefits. Attorney Robert Turner creates special needs trusts for clients in Decatur, the greater Atlanta area and throughout Georgia.
What Is a Special Needs Trust?
A special needs trust is a special type of irrevocable trust that is created for a person who qualifies for Medicaid or other government benefits. Since assets are held in the name of the trust, they are not owned by the beneficiary and do not count as the beneficiary’s personal assets.
Money in a special needs trust can be used to pay for extra expenses not covered by Medicaid, such as:
- Spending money
- Television sets
- Other supplemental needs
Special needs trusts can be created for frail, elderly parents, for disabled children, and for developmentally or physically disabled adults who will require additional care and long-term financial resources.
When you create a special needs trust, you name a trusted person or institution as the trustee to manage the trust assets and make payments to the beneficiary.
Contact Us for a Free Initial Phone Consultation
For more information about special needs trusts, call lawyer Robert Turner at phone number(866) 768-5365 or fill out the contact form on this Web site. Our law office is located in historic downtown Decatur, Georgia, just off Decatur Square.