Retirement Accounts and Special Needs Planning: Avoiding Benefit Pitfalls When planning for your own financial security, or that of a loved one with a disability, it’s natural to focus on cash savings and investments. However, one asset that can create unexpected challenges for eligibility for government benefits is a retirement account, such as an IRA or a 401(k). For programs like Social Security’s Supplemental Security Income (SSI) and/or Medicaid, eligibility is based on strict income and ...

Planning for the Future: Why Consider a Special Needs Trust? For individuals with disabilities and their families and friends, planning for the future means ensuring long-term support while protecting access to vital public benefits like Medicaid and Supplemental Security Income (SSI). These programs have strict income and asset limits, which means that even a small inheritance or monetary gift could unintentionally result in the loss of eligibility. A Special Needs Trust (SNT) allows familie...

How Special Needs Trusts Are Managed: A Special Needs Trust (SNT) is designed to protect a person’s eligibility for important public benefits, such as Social Security Administration’s (SSA) Supplemental Security Income (SSI) and Medicaid, while still allowing funds to enhance the beneficiary’s quality of life. Because these benefits are based on strict financial limits, each trust is required to follow certain rules that ensure the money is used appropriately and always for the sole benefit of...