Posted on: Jan 12, 2017
Parents, grandparents, legal guardians, and courts all can create special needs trusts for a disabled individual in order to help finance his or her Long-Term Care needs. In order to qualify for Medicaid, an individual normally would be subject to certain income limits. By placing funds in a special needs trust, a parent can offer financial help for the individual’s needs that go beyond Medicaid and Social Security benefits, without endangering the individual’s eligibility for Medicaid.
Up until now, one major drawback to the federal law authorizing special needs trusts was that a disabled individual who had the mental capacity to do so could not set up his or her own special needs trust. As a result, a disabled individual typically needed to have the court establish a special needs trust for him or her. With the recent passage of the Special Needs Trust Fairness Act (SNT Fairness Act), however, an individual who is disabled but has adequate mental capacity can set up a special needs trust on his or her own.
The National Academy of Elder Law Attorneys, Inc. (NAELA) was instrumental in lobbying and advocating for the SNT Fairness Act, which passed overwhelmingly in the House, unanimously in the Senate and was signed by President Obama on December 13, 2016.
Elder Law Group PLLC knows how special needs trusts work, and are ready to help eligible individuals create their own (d)(4)(A) special needs trust pursuant to the SNT Fairness Act. Whether you are a disabled individual who wants to establish a special needs trust or parents looking to give their disabled child financial security in the future, we have the experience necessary to help you create these trusts, as well as navigate Medicaid and any other government benefits programs for which you or your child may be eligible. We are here to help you make the best decisions based on your situation by exploring your options and giving you the legal advice that you need. All too often, families don’t know where to turn first in terms of providing financial support for their disabled loved ones without jeopardizing their eligibility for public benefits programs. You can count on your Washington special needs trust attorneys to guide you as you gather information, evaluate all available options, and make the decision that is best for you and your family.