Maintain eligibility for government benefits
Special Needs Planning
As a parent of a special needs child, I was concerned about my child’s well being after my wife and I are gone. I have had difficulty finding good advice – many local attorneys are “generalists” and do not have a good understanding of how to plan for a special needs child. After not having much luck googling, I decided to pursue the Chartered Special Needs Consultant, ChSNC® designation from the American College, and now feel confident in the plans for my child’s future and love opportunities to use this knowledge to help others.
Government benefits such as SSI, SSDI, Medicaid and Medicaid Waiver programs are very important but will not meet all of our adult children’s financial needs. In addition, without following the rules, it’s possible to be disqualified from receiving these benefits.
Here are some things we can discuss:
- ABLE accounts
- 1st Party Funded Special Needs Trusts
- 3rd Party Funded Special Needs Trusts
- Pooled Special Needs Trusts
- Special Needs trust administration
- Guardianship (of person, of estate, general)
- Revocable living trusts
- In Kind Support (preventing loss of SSI benefits)
- Medicaid Payback (invasion of remaining assets at death of beneficiary)
- Life Insurance strategies (in particular, survivorship also known as “second to die”)
- Affordable Care Act
- Medicare
- Social Security Disability Income (SSDI) benefits
- Supplemental Security Income (SSI) benefitsÂ
I do not provide tax, legal or accounting advice. This website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.