Can I Protect My Injury Settlement With a Special Needs Trust?

In many cases, people with disabilities are unable to earn much income. As a result, they qualify for need-based government benefit programs. Medi-Cal is a source of health insurance for people with financial need, and Supplemental Security Income can provide a basic level of financial support if you can qualify. An improvement in financial status could result in a loss of need-based government benefit eligibility. As a response, assets can be protected through the creation of a special needs trust. First Party Special Needs Trusts A first party special needs trust is a special needs trust that is funded with assets that are the property of the beneficiary. Someone may become disabled due to injuries sustained in an accident. An individual in this situation may eventually receive a personal injury settlement or judgment. To preserve government benefit eligibility, a grandparent, a parent, or a legal guardian could use the assets to fund a special needs trust. The beneficiary could not
http://www.norcalplanners.com/blog/special-needs-planning/protect-injury-settlement-special-trust/

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