Creating Trusts For Disabled Family Members

Providing money or assets to a disabled person can be difficult if he or she is receiving government benefits such as Medicaid. Without proper planning, the money you wanted to go to your loved one may end up going to pay nursing home or medical expenses instead.

At Hoover Andrews, PLLC, in Barboursville, West Virginia, our lawyers help families and individuals plan their estates in a way that preserves their assets and protects their beneficiaries. By doing proper planning up front, we can avoid unintended consequences.

Creating A Special Needs Trust

To be eligible for Medicaid or Supplemental Security Income (SSI), your loved one must have limited financial resources. By giving money or assets directly to a person who receives Medicaid or Supplemental Security Income, you could unintentionally make that person ineligible for the benefits he or she is receiving from the government. He or she would have to spend those assets to once again become eligible for assistance.

You can avoid this consequence by placing assets in a special needs trust for the benefit of your loved one. Since trust assets are not owned by the beneficiary, your loved one would not lose eligibility for Medicaid or SSI.

To Schedule A Consultation About Special Needs Trusts

To arrange an initial consultation to discuss special needs trusts with an attorney at our firm, please call 304-521-1040 or toll free at 888-389-5924, or complete our simple contact form.