Special Needs Trusts
With Milestone’s guidance, plaintiffs can utilize a special needs trust to get the most from their settlement while keeping eligibility for income-based government benefits.
Guidance on Special Needs Trusts from an Experienced Team
A special needs trust helps plaintiffs stay eligible for their means-tested benefits like Supplemental Security Income (SSI) and Medicaid. Using settlement funds to supplement coverage, a special needs trust pays for goods and services that the government programs do not cover. This tool helps beneficiaries avoid disqualification by keeping them within the programs’ strict income limits.
A special needs trust can pay for:
- A home and its property.
- A vehicle that is used by the beneficiary or a member of his or her household for transportation.
- Household goods and personal effects.
- Life insurance policies (within SSI’s combined face value limit).
- Burial spaces for the beneficiary and his or her immediate family.
- Burial funds for the beneficiary and his or her spouse (within SSI’s value limit).
- Property used in a trade or business or on the job if the beneficiary works for someone else.
- Money or property set aside under a Plan to Achieve Self-Support (PASS).
- Up to $100,000 of funds in an ABLE account.
Contact Milestone if your client has means-tested government benefits and is about to receive a personal injury settlement. Our team’s guidance can ensure they remain eligible.