When someone receives a personal injury settlement and is also receiving much-needed public benefits, such as SSI and Medicaid, it is important to know how choices can affect the special needs trust.<\/p>\n
Supplemental Security Income (SSI) is an ongoing source of funds meant to pay for food and shelter; Medicaid pays for medical expenses. Both are designed for an individual who has assets totaling no more than $2,000. So, if you or your loved one is receiving SSI and Medicaid and then also receives a personal injury settlement, you (or your loved one) will become ineligible for SSI and Medicaid.<\/p>\n
Back in 1993, Congress authorized the establishment of special needs trusts, and assets transferred to one of these trusts is typically not counted when determining if there is asset eligibility for SSI or Medicaid. That is why a special needs trust is so attractive: funds can be placed in the trust to (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" When someone receives a personal injury settlement and is also receiving much-needed public benefits, such as SSI and Medicaid, it is important to know how choices can affect the special needs trust. Supplemental Security Income (SSI) is an ongoing source…<\/span><\/p>\n