Special needs trusts (a.k.a. “Supplemental Needs Trusts”) are important estate planning tools for individuals with loved ones with special needs. A properly drafted special needs trust can help preserve assets, including family assets and assets belonging to a special needs individual, for the entirety of the individual’s lifetime. Special needs trusts are most often utilized by:
- Parents with special needs children; and
- Disabled individuals who receive personal injury settlements.
Most individuals with special needs rely on funds/benefits from Supplemental Security Income (“SSI”) and Idaho Medicaid. Individuals will generally not qualify for either program unless their income and assets levels reach certain minimal amounts. As a result, an individual receiving SSI and Idaho Medicaid should not directly receive an inheritance or personal injury settlement as the receipt of such funds/assets may disqualify the individual from receiving SSI and Idaho Medicaid.
Please contact our team of Idaho Medicaid Planning attorneys to answer your questions about the use of a Special Needs Trust. At Racine Olson our experienced Idaho Medicaid planning attorneys recommend planning for your loved ones with special needs as soon as possible. Our Idaho Medicaid planning attorneys will help you plan to provide for your loved ones to ensure your loved ones receive the care they need without interrupting the benefits necessary for their well-being. Our Medicaid planning attorneys assist clients throughout Idaho, including Firth, Malad, Montpelier, Preston, Driggs, Rigby, Tetonia Soda Springs, American Falls, Blackfoot, Pocatello, Idaho Falls, Rigby, Twin Falls, Rupert, Burley, and Boise.
Call us toll free at 877-232-6101 or 208-232-6101 for a consultation with Nathan Palmer and the Racine Olson team of Idaho Medicaid Planning attorneys in Pocatello, Idaho Falls, or Boise. You can also email Nathan Palmer directly at nrp@racinelaw.net. We will answer your questions regarding the use of a special needs trust and help you compose a plan to meet your needs.
This website includes general information about legal issues and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. You need to contact a lawyer for advice on specific legal issues.