In order for a disabled person to receive disability benefits, such as Supplemental Security Income (SSI) and Medicaid, he/she must demonstrate that he/she needs the income to live independently. Any assets, even gifts from family members, may be counted against him/her, and could reduce his/her benefits. There are two ways that family members can contribute to a disabled person without those contributions affecting their benefits- special needs trusts and California ABLE accounts.
A trust is a legal arrangement that allows one person (or business) to hold the legal title to property for another person referred to as the beneficiary. A trust, after created, is funded when property is transferred into it. This includes property such as real estate, financial accounts, and other tangible items. There are many [...]
Child support for special needs children - not a topic that most families are faced having to discuss, however approximately 20% of couples have at least one special needs child. California courts require parents to financially support their special needs child (regardless of their age). An order of child support for special needs children may [...]