What Is a Third Party Special Needs Trust?

It is important to provide for each person on your inheritance list in the optimal manner. You are not compelled to slice everything up like a pie as you provide direct inheritances to each family member with no strings attached. If you act without knowledge of all the facts, negative consequences can result. With this in mind, let s look at third party special needs trusts. Benefit Preservation Many families have members with special needs. If you want to provide for a person with a disability, you should keep benefit eligibility in mind. Some people with disabilities must rely on Medicaid coverage. In California, the program is called Medi-Cal. This is a health insurance program that is jointly administered by the federal government along with each respective state government. To qualify for Medi-Cal, you must be able to prove that you have very limited financial resources. Benefit eligibility is not permanent. Eligibility status could change if the benefit recipient was to come in
http://www.norcalplanners.com/blog/special-needs-planning/party-special-trust/

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