Special needs trusts allow a person to set up a trust for a person with physical or mental disabilities without endangering the disabled person’s eligibility for government assistance like Supplemental Security Income (SSI) or Medicaid, but only if the trustee follows the strict rules set up for these trusts. Even if the special needs trust was flawless in its creation, the trustee could cause the beneficiary to lose government benefits by making prohibited distributions of income or assets from the trust.
A trustee needs to know how funds can be spent with a special needs trust in Florida without inadvertently costing the disabled person much-needed benefits. It would be best to work with a Read more . . .