One of the main benefits of a Supplemental Needs Trust is that it allows your loved one to maintain eligibility for government benefits, while also providing additional resources to enhance their quality of life. The funds in the Supplemental Needs Trust pay for expenses not paid for by public benefits. The purpose of the trust is to provide financial resources for the supplemental needs of the disabled individual, such as medical and long-term support, transportation, education and tutoring, recreation and entertainment, and personal care. It is important to note that the trust is designed to supplement, rather than replace, government benefits such as Supplemental Security Income (SSI) and Medicaid. This means that the funds from the trust cannot be distributed directly to the disabled beneficiary, but must instead be used to pay third parties for goods and services that the beneficiary will use and enjoy.
We can help you structure an estate plan that takes into consideration the needs of your child or loved one with a disability. Contact the Law Offices of Tracy R. Field today. You may schedule a 15-minute Discovery Call with our attorney to see if we can assist with your needs.