Trustee of Special Needs Trust must be cautious in making reimbursements
A person who is receiving Supplemental Security Income (SSI) from the Social Security Administration must report changes in his income or resources (assets) to SSI, because this can affect his eligibility or the amount of benefits. If countable resources exceed $2,000 on the first of a month, eligibility can be lost. If the issue is detected after the fact, there can be a resulting overpayment...
Ideas for use of ABLE Accounts
When an individual with disabilities needs the primary support that’s available through means-tested benefits such as Medicaid Long Term Services and Supports (MLTSS) or SSI or HUD housing, having excess resources creates a barrier to eligibility. First party Special Needs Trusts for sole benefit of the disabled individual are often the strategy of choice, as the disabled individual can...