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01-24-2015, 11:45 AM | #1 | ||
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"Thanks for this!" says: | Chemar (01-24-2015), echoes long ago (01-24-2015), Lara (01-24-2015), mrsD (01-27-2015), Mz Migraine (01-26-2015), Rayandnay (01-25-2015) |
01-26-2015, 07:53 PM | #2 | ||
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"Invisible" Disability . |
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01-26-2015, 10:07 PM | #3 | ||
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Magnate
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My nephew's medical bills can be astronomical since it's not uncommon for him to require long periods of hospitalization as well as caring for all his other special needs. He's currently on SSI as well, but the bigger issue is his eligibility for Medicare if his father, my brother, were to receive an inheritance. Since he is renting, it would be practical if he were to purchase a modest home within 30 days of receiving the funds, so as to not have issues of Medicare eligibility for his son. Ginnie has posted several times in the past about her difficulties with SSI and Medicare eligibility since the home and funds set up for her in a trust were not properly executed by the attorney her parents hired. This link offers some ideas on the proper way to set up a trust: http://www.disabilitysecrets.com/res...curity/using-t Last edited by LIT LOVE; 01-26-2015 at 11:10 PM. |
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"Thanks for this!" says: | Mz Migraine (01-27-2015) |
01-27-2015, 01:52 PM | #4 | ||
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Lit, according to the link you posted it appears "The Special Needs Trust" answers my question....
The Third-Party Special Needs Trust "A third-party special needs trust is one that is funded by assets owned by someone other than the disabled person.These are often created in a parent's will to ensure that the disabled child’s needs are met after the parent dies. State legislation sometimes contains language that may be used to establish the trust. These trusts must be established for the "sole benefit" of the disabled person." Apparently, one must also check their state laws regarding a special needs trust.
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01-27-2015, 04:18 PM | #5 | ||
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It really makes a difference how much money is an issue and what their medical situation is. Finding an attorney experienced with trusts for SSI recipients would be very important. |
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