You may equate estate planning to the creation of a will, but there are other options. In many cases, a trust of some kind will be preferable, and we will look at some of these scenarios in this post. Special Needs Planning Most people with disabilities rely on Medicaid for their health insurance, and individuals that are in this position typically receive Supplemental Security Income as well. These are need-based programs, so you cannot qualify if you have significant assets in your … [Read more...] about Why Would a Trust Be Preferable to a Will?
supplemental needs trust
The majority of people in the United States get their health insurance through their employer provided plans. Unfortunately, a high percentage of people with disabilities are not in a position to hold jobs, so this is not an option for them. Everyone needs health insurance, but it is especially important for these folks, so the void is a big deal. Fortunately, a safety net exists in the form of the Medicaid program. It is a need-based benefit, so you can potentially qualify if you have less … [Read more...] about Does Medicaid Seize Remaining Assets in a Special Needs Trust?