Caring for Your Special Needs Loved One

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Caring for a Special Needs Loved One
Supplemental Needs Trust
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Caregiver Concerns
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As the parent, grandparent, or loved one of a
special needs individual you are probably
concerned about your loved ones future
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The cost of caring for a special needs child or
adult can be high
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Many federal and state programs may help but you
must use care in your estate plan to ensure that
your loved one remains eligible for these programs
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ENTITLEMENT PROGRAMS
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Entitlement programs do not consider an
applicants (or households) income or resources
when determining eligibility
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Social Security Disability Insurance
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SSDI is based on earnings record of parent
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Special needs child may qualify under Childhood
Disability Benefits Program
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Special needs adult may qualify under Disabled
Adult Child Program
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Must have become disabled prior to age 22
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Parent must either be receiving Social Security
retirement or disability benefits or be deceased
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SSDI provides monthly monetary benefit
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Medicare
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After receiving SSDI for two years recipient will
qualify for Medicare
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Medicare provides healthcare benefits
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MEANS TEST PROGRAM
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MEANS TEST PROGRAMS consider the income and
resources of the applicant and/or the applicants
household
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Both income and resource limits can be very low
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Common programs include
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Medicaid
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Jointly funded by federal and state government
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Administered by the state
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Provides healthcare benefits
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Income and resources considered in 2013 income
limit in New York for family of 4 was 1528 month
and resource limit was 27,495
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Important if special needs individual will need
long-term care because Medicare does not cover
long-term care
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Supplemental Security Income
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Estate Planning considerations
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Care must be taken when estate planning to ensure
that a special needs loved one does not lose
eligibility for benefit programs
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There are three approaches to estate planning
with a special needs loved one
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Disinheriting Your Special Needs Loved One
Completely disinheriting a child ensures that
he/she will not lose benefits
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Can cause emotional trauma if child doesnt
understand the reason
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Does not provide supplemental care for child
after your death
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Leaving Everything to Healthy Children
Leave the assets intended for your special needs
loved one to other healthy children
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Leaves assets at risk for creditors of healthy
children
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Assets can be lost in a divorce
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No legal requirement that assets be spent as
intended
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Supplemental Needs Trust
Allows you to appoint a trusted, knowledgeable
trustee to manage trust assets
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Learn More About Supplemental Needs Trust in New
York
Learn More About Supplemental Needs Trust in New
York
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Law Offices of Barton P. Levine
www.bartonlevine.com
[phone]