Disability Planning

Many disabled adults receive some form of government benefits, such as Supplemental Security Income (SSI) or Medicaid benefits. What happens if a family member wants to leave that disabled person an inheritance? What happens if the disabled person comes into unexpected money, such as proceeds from a lawsuit, or a lump sum payment from Social Security?

New York State law allows disabled individuals to keep such assets in a trust called a Supplemental Needs Trust. This is a special type of trust designed only for disabled people to allow them to receive additional benefits without compromising benefits received from government programs.

Planning for a disabled child requires equally careful consideration. Who will care for your son or daughter when you are gone? Where and how will he or she live?

There are various options available to care for a disabled adult or child, but proper planning is the key to accomplishing your objectives.