Providing For The Care Of Mentally And Physically Disabled Persons
Supplemental Security Income (SSI) and Medicaid provide some benefits for mentally and physically disabled persons. However, you may wish to provide additional funds for your loved one. To accomplish this, you can set up a special (or “supplemental”) needs trust.
Creating a special needs trust is a job for an experienced Illinois estate planning lawyer. The attorneys at Michael Overmann, Ltd., can help. We will work closely with you to understand your family’s needs and goals. We understand that providing care for your loved one after your death is very important to you. Working together, we will find the solution that will give you peace of mind. Please call 630-395-7948 in DuPage County or 708-590-4599 in Will County to schedule an appointment.
Special Needs Planning With Darien Special Needs Trust Attorneys
You may choose to create a special needs trust to leave money to a developmentally disabled person without disqualifying him or her from SSI and Medicaid benefits. The state pays for the day-to-day living expenses of the beneficiary and the special needs trust pays for the extra or luxury items that Medicaid does not cover.
We can set up a third-party trust that will pass your assets to your spouse or children in a special needs trust after your death. If the disabled person has funds of his or her own (from a personal injury settlement or life insurance), we can create a self-settled trust to manage the funds for the person.