People with special needs are typically enrolled in the Medicaid program. This is a government health insurance program that is administered by each state government along with the federal government. We practice law in the state of California, and in our state, the program is called Medi-Cal. Clearly, health insurance is going to be particularly important for people with special needs. In some cases, care and treatment can cost millions of dollars over the course of a lifetime. Medi-Cal … [Read more...] about What Is a First Party Special Needs Trust?
Special Needs Planning
Medicaid (Medi-Cal), SSI, and Special Needs Trusts
Medicaid is a government health insurance program for people who have very limited financial resources. In California, the program is called Medi-Cal. You do not have to be disabled to qualify for Medicaid, but many people with special needs are unable to earn much income. As a result, they qualify for Medicaid or Medi-Cal, and this coverage is extremely important for people with disabilities. The acronym SSI stands for Supplemental Security Income. As the name would suggest, this is a … [Read more...] about Medicaid (Medi-Cal), SSI, and Special Needs Trusts
What Is a Third Party Special Needs Trust?
It is important to provide for each person on your inheritance list in the optimal manner. You are not compelled to slice everything up like a pie as you provide direct inheritances to each family member with no strings attached. If you act without knowledge of all the facts, negative consequences can result. With this in mind, let's look at third party special needs trusts. Benefit Preservation Many families have members with special needs. If you want to provide for a person with a … [Read more...] about What Is a Third Party Special Needs Trust?
What Is a Supplemental Needs Trust?
A supplemental needs trust, also referred to as a special needs trust, is a type of trust that can be used to provide resources for the benefit of a loved one with a disability who is enrolled in government benefit programs. We will look at the details in this post. Medicaid/Medi-Cal Medicaid is a jointly administered federal/state government program that provides a health care safety net for low-income people. In California, it is called Medi-Cal. To qualify for Medicaid you must have very … [Read more...] about What Is a Supplemental Needs Trust?
What Is a Supplemental (Special) Needs Trust?
A supplemental needs trust, also known as a special needs trust, is a type of trust that can be used to provide resources for the benefit of a loved one with a disability who is enrolled in government benefit programs. We will look at the details in this post. Medicaid Medicaid is a jointly administered federal/state government program that provides a health care safety net for low-income people. In California, it goes by the name Medi-Cal. To qualify for Medicaid you must have very limited … [Read more...] about What Is a Supplemental (Special) Needs Trust?
What Is a Special Needs Trust?
When you are engaged in the process of estate planning, you should explore all of your options carefully and act in a fully informed manner. There are various different ways to facilitate future asset transfers, and the optimal course of action will vary depending on the circumstances. Special Needs Planning If you want to provide for someone with special needs, you should be aware of government benefit eligibility rules and regulations. Many people with disabilities are enrolled in the … [Read more...] about What Is a Special Needs Trust?
Your Special Needs Children Need You to Act
Parents who have special needs children often need to deal with issues that parents who don’t have special needs children don’t have to face. While all parents need to create a comprehensive estate plan, especially after they have a new child, parents of special needs children have to take a little extra time when they develop their plan so they can address the specific issues relevant to their situation. Let’s take a look at some of the common concerns that parents with special needs children … [Read more...] about Your Special Needs Children Need You to Act
Autism is Becoming Increasingly Common Amongst Children
About 10 years ago the Centers for Disease Control and Prevention estimated that one out of every 150 children will be diagnosed with an autism spectrum disorder, or ASD. Today that number stands at 1 in 88, making autism spectrum disorders much more common. April is Autism Awareness Month, so let’s take the time to better understand this important disorder and how it affects people. In families with children who have been diagnosed with an ASD, parents and family members are generally familiar … [Read more...] about Autism is Becoming Increasingly Common Amongst Children
What You Need to Know About Special Needs Planning
As a parent who has a child with developmental disabilities, you should know that there are several options available to you to help protect your child should something happen to you. Special needs planning is the term that applies to a range of situations, but most often in cases where a parent has a child with a disability. Here are some of the basics you need to know about this kind of planning. Special Needs Trust Parents with a special needs child can create a special needs trust, a … [Read more...] about What You Need to Know About Special Needs Planning
Use Care When Crafting a Special Needs Plan
Parents with special needs children should speak to an experienced and qualified estate planning lawyer about creating a special needs plan if you haven’t already done so. Through a properly drafted special needs plan, you and your family can rest assured that the person with disabilities will have their needs looked after should the worst happen to you. A good special needs plan will also allow you to leave an inheritance, while at the same time taking advantage of any relevant government … [Read more...] about Use Care When Crafting a Special Needs Plan
