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Consider:
1. There are various types of Medicaid available, as well as Supplemental Security Income (SSI), to assist with the medical and long term care costs for those with mental or physical impairments. Different types of assistance have different income and asset limitations, and certain income and assets may be excluded in determining eligibility.
2. The gifting or bequeathing of assets to an impaired loved one without working with the family that is doing special needs planning could negatively affect the loved one's eligibility for government benefits.
3. Special care planning enables you to protect your loved one's eligibility for government assistance while setting aside funds to improve his or her quality of life by providing for those services and activities not covered by government assistance.
Do you want to try to do this planning independently, or would you prefer having a knowledgeable advocate on your side helping you to provide for and protect your loved one?
Other Special Needs Planning Issues
Consider:
1. Special needs trusts can be funded with more than just family assets. Personal property, stock and mutual funds can be included in the trust. Life insurance is also an excellent way to fund the trust.
2. Include family and friends in planning. Someone with good intentions could easily, unintentionally render your loved one ineligible for government benefits by making an outright gift. Have family and friends contact your attorney to follow the necessary steps to protect your loved ones government benefits.
3. Expensive corporate fiduciaries are not required. The non-profit Georgia Community Trust is available to act as a trustee at a fraction of the cost of corporate fiduciaries.
Call 678-880-0800 today to schedule your complimentary consultation.
To provide for a more meaningful consultation, you may want to complete the documents below and have them with you during the consultation. Even if you decide not to team with us, these documents will be helpful in working with counsel that you do select.
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