The answer is yes and no. If you create a supplemental needs trust for the benefit of someone else with your funds, it would be a third-party special needs trust. In the trust declaration, you would name a successor beneficiary. After the death of the first beneficiary, the successor would assume ownership of the remainder. Medi-Cal would not be able to touch these assets. On the other hand, if the assets are created with resources that are the property of the person that will be the … [Read more...] about I have heard that Medi-Cal seeks reimbursement from the estates of benefit recipients after they die. Can they reach assets that remain in a supplemental needs trust?
Special Needs Planning FAQs
Sometimes an individual with a disability that is relying on these programs will come into money through a personal injury settlement or from some other source. Under these circumstances, a parent, a grandparent, a legal guardian, or a court could use the funds to establish a self-settled or first party special needs trust for the benefit of the person in question. Everything would be the same with regard to the trustee’s ability to use assets in the trust to satisfy the supplemental needs of … [Read more...] about Can a person with special needs create a trust with their own money?
You could convey assets into a supplemental needs trust. These legal devices are alternately referred to as special needs trusts. If you establish this type of trust, you would name a trustee to act as the administrator, and the person that you want to assist would be the beneficiary. Medi-Cal and Supplemental Security Income will not necessarily satisfy all the needs of benefit recipients. These unmet needs are referred to as “supplemental needs.” The trustee would be allowed to use assets … [Read more...] about What’s the solution?
Most people get their health care insurance through their jobs, but a significant percentage of folks with special needs cannot enter the workforce. For these individuals, Medi-Cal fills the gap. This is a jointly administered federal/state government program that provides health insurance for people with very limited monetary resources. Supplemental Security Income (SSI) is another government program that is relied upon by many people with disabilities. As the name would indicate, this … [Read more...] about Why do you have to make special arrangements to leave an inheritance to a loved one with a disability?