until the inheritance was used up. Planning with Special Needs Trusts can solve this dilemma.
Some disabilities are the result of someone else’s negligence. In these cases, the person with disabilities may recover money damages. However, the injured person may require lifetime assistance at enormous cost, which may be well beyond the amount of the recovery. Treatment of the injury necessitates government-provided benefits. - Therefore, even though a recovery may
HOW GOVERNMENT BENEFITS SYSTEMS WORK
2 provide substantial assets, the recovery can put these benefits at risk. Planning with Special Needs Trusts can solve this dilemma.
Planning for beneficiaries who are disabled requires a basic understanding of how government benefits systems work. These programs together disperse benefits to millions of people in the United States every month. Yet, most people, as well as lawyers, do not have a grasp of the features and the distinctions among them. The names of the programs are very similar, which makes it more confusing. While access to the means-based programs requires special planning, it is important to know how other programs interrelate and in some cases complement the means-based programs. To help in that understanding, attached are two simple charts to illustrate and compare three programs provided through Social Security and Medicare and Medicaid.