The special needs trust can be used to protect loved ones with disabilities and ensure they are eligible for Federal Medicaid.
When you have beneficiaries who face unique challenges, special needs planning In Arizona is different from traditional planning. You will be able to discuss your special needs with him/her and help you choose the right option to achieve your goals.
Specially disabled individuals may be eligible for federal benefits such as cash for living expenses or health care from the various Medicaid programs. The US government created Medicaid to assist low-income individuals.
People with disabilities often have difficulty qualifying for Medicaid if their parents or another family member leave an inheritance. Federal aid may not be available to children who inherit resources.
Arizona law permits you to transfer assets to your child with disabilities while you are eligible for federal benefits. To ensure eligibility, however, the trust must include certain restrictions and conditions.
This allows trust funds to only be used for special needs of children with disabilities. Trust resources will be used to extend government benefits, not replace them.
You can make a lasting legacy by establishing a special need trust, letter to intent, guardianship or other strategies. This will allow your children to have a better quality life and ensure that they have a trusted advocate.