Reply to Special Needs Trust out of money?

Forum Index » Family Relationships

Reply to "Special Needs Trust out of money?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]You and your sibling need to have a lawyer review everything before you send any money to your uncle. You can hire an attorney to represent your brother and look into whether the uncle broke his fiduciary responsibility.

[b]An ABLE account or special needs trust does not trigger Medicaid or other social services. It doesn’t show up as income or assets owned by the disabled person.[/b] This is the point of these trusts. It’s also why the accounts can’t be used for rent, food, utilities etc.

Unless the uncle was using the trust to pay for residential treatment facilities or in home personal caregivers or private psychiatrists that don’t take Medicaid then something is wrong. [/quote]

A lot of people are responding who are conflating Medicaid's long-term care rules around assets and trusts, but the bolded above is accurate for SN populations with these trusts. I would want to understand more about the burn rate, whether the money was in investments that lost money,  etc... and I think if you wanted to keep things from veering into accusations, you could say that you need to understand what kind of financial support is needed going forward for planning purposes and thus need to understand what the monthly and annual expenses are. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics