Supplemental or Special Needs Trusts

Did you know there are certain exceptions, found in the Medicaid rules, for transfers related to the sole benefit of disabled people under age 65?

The rules state that if you have a child or other relative, or even a friend who is under age 65 and disabled, you can transfer assets into a special needs trust for his/her benefit without incurring any period of ineligibility - this applies even if you have moved to a nursing home.

A properly structured special needs trust will not be considered to belong to the beneficiary, in determining his/her own Medicaid eligibility. Please note that after the disabled individual has died, the state must be reimbursed for any Medicaid funds spent on behalf of the disabled person.

(Article theme provided by The Bradley Law Firm PLLC http://www.bradley-law.com)