The government is a major source of income for people who may need help due to a disability. Whether you have a child born with a physical or developmental impairment or you a person looking out for the welfare of a sibling or aging parent who has become incapacitated, government benefits may be critical to their very survival.
While you may be the primary caregiver for your loved one right now, there is no way to guarantee that you always will be there. What will happen to your loved one then? What if someone dies, and the person with disabilities receives an inheritance that makes them ineligible to receive government benefits?
There are legal answers to such questions for residents of Missouri and Illinois, but finding the right one depends on having a full understanding of the specific facets that make up your particular case.
One of the tools that might be important to consider is a special needs trust. This instrument of the law comes in a lot of different forms and each state has its own laws regarding their use. But in each case, the primary intent is to set up a legal means of protecting a disabled person’s eligibility for such government benefits as Medicaid.
Whether your situation is relatively simple or significantly complicated, the particular objectives you want to meet require deep understanding, a clear plan and a proper legal construct. That is something that our firm, skilled as it is in thoughtful estate planning, is equipped to provide. We invite you to contact us so we can help you find your solution.