QUESTION

I am receiving SSI and medicaid benefits . I will receive a settlement for an accident . Do i need special needs trust or other type of trust to avoid l

Asked on Aug 16th, 2011 on Trusts and Estates - Florida
More details to this question:
loose benefits?How does it cost? What lawyer can do this trust? how lond does the trust take to me to get it? How much cost to keep the trust active? What do i need to have a trust? I am 54 an legally blind
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1 ANSWER

A special needs or supplemental needs trust is one way to prevent the loss of certain government benefits such as SSI and Medicaid when you get a settlement.  It must be established by a parent, grandparent, guardian or court.  Sometimes the court where the personal injury case is settled can handle it, sometimes it will be referred to another court. You will also need someone to act as a a trustee. You could also use a pooled trust administered by a not-for-profit.  You might ask your personal injury attorney to refer you to an elder law or special needs attorney. This response is general in nature and is not legal advice.  No attorney client relationship is formed by it.
Answered on Aug 17th, 2011 at 12:06 AM

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