Special Needs Trusts are an excellent tool for protecting your disabled family members and making sure they are eligible for valuable Federal Medicaid programs. The following guide is intended to inform you about the way in which these trusts are made and managed and, above all, to inform you of the advantages of these Special Needs trusts. You can also hire best miller trust in Arizona via https://elderlawofaz.com/elder-law-altcs/ .
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People with specific disabilities can receive federal benefits, such as cash, because of their living and health care expenses from different Medicaid programs. Medicaid is a system created by the US authorities specially designed to help low-income people (this should not be confused with Medicare, the national health insurance for the elderly).
For the disabled, problems with Medicaid eligibility often arise when parents or other family members leave an inheritance for their disabled children. The resources inherited by the child could quite well prevent them from receiving federal aid.
Fortunately, the law allows these assets to be placed in trust for your disabled child while still being eligible for federal benefits. However, certain terms and limitations must be included in the trust to ensure that the eligibility parameters are met.
Basically, these hopes allow the trust resources to be used only for the specific needs of your disabled child. Trust resources will move toward expanding government benefits rather than supplanting them.
The most common limitations of the special needs trust include provisions that prevent the trust assets from being used to house and feed the disabled person. The objective is that the national authorities continue to cover these main expenses.