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For a beneficiary receiving disability income, an inheritance could pose a large problem. Assistance from the government is determined by the value of assets owned by the person receiving benefits and any income earned.
If that person receives assets as an inheritance, disability benefits could be reduced.
A special needs trust can withhold distributions to the person receiving disability, therefore not affecting disability income.
If the beneficiary needs money, the successor trustee can arrange for payments to have minimal disruption of benefits.
Certain services or goods which cannot be resold for money can be paid for by the special needs trust, such as movie tickets, which increase the quality of life for the beneficiary without increasing the beneficiary's asset or income.
The special needs trust can hold assets for the entire lifetime of the beneficiary, after which the inheritance may be distributed to the deceased beneficiary's heirs or to other beneficiaries as instructed by the special needs trust.
Leavell and Rivera, PLC is a full-service law firm experienced in numerous areas of law. Our attorneys provide Arizona families and businesses with quality and affordable legal services. Call for a Free 30 Minute Consultation.
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Phone: 480-948-7114 | Fax: 480-422-7330 | Addess 15425 S. 40th Place, Suite #5 | Phoenix, AZ 85044
Phoenix Law Firm Leavell & Rivera, PLC, provides top of line legal represenation for familes facing divorce, child custody, child support, adoption, child custody, or parenting time issues. The firm is highly recommended when chosing a family law attorney in Phoenix, AZ or when handling any estate planning and probate matters .
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