There are different ways that you can facilitate asset transfers to the people on your inheritance list. The right way to proceed will depend on the circumstances. Plus, you don’t have to provide for everyone in the same manner. Targeted solutions can be implemented to address the life situation of each respective person.
With this in mind, we are going to take a look at inheritance planning for people with disabilities in this post.
Medicaid and Supplemental Security Income
Obviously, people with disabilities are going to need expensive health care. Insurance is a must, but many of these folks cannot work, so they can’t get coverage through their employers. Fortunately, there is a solution in the form of Medicaid. It is a need-based benefit that is available to people that have very limited financial resources.
People with disabilities that qualify for Medicaid can also receive Supplemental Security Income (SSI). Every little bit helps, but it is very modest. In 2023, the maximum annual benefit for an individual that is receiving send us a message to request a consultation appointment, we can be reached by phone at 860-548-1000.
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Estate Planning: Keep It Simple
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