Estate Planning For Families with Special Needs
Many individuals with disabilities can benefit from an array of government programs, including Social Security and Medical Assistance. Adults with disabilities, however, must meet strict asset limits to be eligible for these programs. Social Security has an asset limit of $2,000 and Medical Assistance has an asset limit of $3,000. There are many options, however, to avoid these asset limits! Any assets in a supplemental needs trust, a special needs trust, or ABLE Act account will not count against an individual’s asset limits. This presentation will inform families how to establish these accounts and incorporate them into their estate plans.