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Navigating Social Security Benefits for Special Needs Adults

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If you have an adult son or daughter with disabilities, they are eligible for financial support under a federal government program known as Social Security Disability Insurance (SSDI). This monthly supplemental income alleviates some of the financial expenses required for the care of your son or daughter. Receiving Benefits from a Parent's Work Record A child with disabilities may also receive social security benefits based on a parent’s work record. To qualify for SSDI under a parent’s work record, the son or daughter must be completely disabled under one of the definitions in federal law. Also, the parent must have paid into the Social Security system for the required number of quarters and the parent must be deceased, permanently disabled, or be receiving Social Security retirement benefits. If these requirements are met, the adult son or daughter with disabilities is eligible to receive both SSDI benefits in addition to the SSI benefits that his parent is collecti...
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The Rights of Special Need Trust Beneficiaries

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Let’s say a rich uncle died and left you a hefty inheritance. Instead of receiving one lump sum, you learn that the money is to be held in a trust and you are to be given $5,000 a month with the money being used in a specific way. You quickly google trust and trust fund and learn that a trust is a legal agreement outlining how financial and other assets, held in a trust fund, will be managed and distributed on behalf of another person. You also learn that the trust will be administered by a third-party and you are the beneficiary of the trust. Legal Rights Under the law, a beneficiary of a trust has the legal right to monitor the activities of the trust. This means they can review, usually with an attorney or financial advisor, the investments as well as all expenditures and receivables of the trust. Every trust has stipulations on how the trustee in trust must manage the trust, even outlining how much the trustee in trust should be paid. The trustee in trust is responsib...
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Who Should Have a Special Needs Trust?

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It's natural to want the very best for your child or grandchild. As you grow older, you may feel apprehensive and anxious about the future, and what may happen to your loved ones if when you pass away. If your child or grandchild has a disability, then you definitely need to think about the plan for the future. This should include a special needs trust which will guarantee the health and wellbeing of your disabled child or grandchild. With a special needs trust, the disabled beneficiary can enjoy the use of property held in the trust for their own benefit, while also receiving necessary needs-based government aid and assistance. With many special needs trust benefits, this is a must-do for families with a disability. If you're wondering if a special needs trust is right for you, below are some examples of situations in which a special needs trust makes a big difference.  Physical Handicap  If your child or grandchild uses a wheelchair, then you want to make su...
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