Opportunities for Special Needs

Opportunities for Special Needs

Children (and other heirs) who receive social security disability benefits (SSI Program) can have their benefits interrupted if they receive an inheritance.

Social Security simply stops making additional payments until the child spends all of the inheritance.  Then Social Security resumes making those payments.

But with some relatively simple planning, a Living Trust or Family Trust can enable the parent to leave an inheritance to a child who is receiving SSI benefits without jeopardizing those benefits. Supplemental Needs Trust provisions built into a typical Family Trust allows the inheritance to be paid to the beneficiary over an extended period of time so that it effectively becomes a source of enrichment that increases the standard of living of the beneficiary, often for the remainder of his or her lifetime.

By parceling out the inheritance a bit at a time, the Social Security benefits can remain uninterrupted.   

Doing so maximizes the financial blessing for the beneficiary that flows from the inheritance.

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Author: Barry Peters. For additional easy-to-understand information on Wills, Trusts, and Probate, call attorney Barry Peters’ offices at (208) 939-2600 for your expedited appointment for a FREE OFFICE CONSULTATION or visit his Q & A pages at BarryPeters-Law.com/common-questions. As always, your total satisfaction is guaranteed by Barry Peters, Attorney at Law, where all clients receive individual attention to the details of their unique circumstances.



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