Your full attention, love, and care are dedicated to your child, a beautiful child with special needs. Each day, however, presents new challenges, causing you and your spouse to feel utterly exhausted and stressed. You are not alone. Many parents and guardians who lovingly take care of their children with special needs experience these feelings, leaving them concerned about their child’s future should something happen to them or can no longer take care of them financially as their child grows older.
Trusts and Medical Assistance Benefits
Perhaps you have been interested in creating a trust but are concerned about the medical assistance benefits your child is currently eligible for. You are likely worried that creating a trust may halt their benefits. There are actually several types of trusts that can be created without disqualifying eligibility requirements.
How Joining a Pooled Trust Can Be Beneficial
A pooled trust is a type of trust that is managed by a non-profit organization. They manage the funds of several individuals and utilize the funds collected. There will still be an account for each individual in the trust. This type of trust can be beneficial as your child will still qualify for benefits while you gain peace of mind knowing that there will be financial support for supplemental needs that will enhance the quality of life.
Who to Turn to for Help and More Information?
You may have several questions in mind and would like the answers to your financial questions about special needs trusts, but do not know who you should turn to for help. Contact Life’s Plan, Inc. They have been offering over 30 years of expertise in pooled trusts and OBRA 93′ Trusts Chicago. They will provide you with the support required to help you and your spouse gain peace of mind. So, when searching for help and the answers to your financial questions about special needs trusts, they are the ones to call.
