2820 Columbiana Road
Vestavia Hills, AK 35216
205 313 3915
Categories: Attorney/Lawyer/Law, Hospital/Assisted Living/Nursing Facilities/Hospice Care, Long Term Care
Many Americans depend upon government assistance such as Medicaid and SSI to provide for their financial needs. Many of these individuals have mental or physical disabilities that substantially limit their major life activities. However, the financial resources provided by Medicaid and SSI are often insufficient to cover the day-to-day living expenses of those that depend upon these programs. This is particularly true of those with disabilities who must also face the costs of increased medical bills and the need for special medical equipment and supplies. Special Needs Trusts or SNT, are a type of trust specially designed for individuals with disabilities, including the elderly in a skilled nursing home. The purpose for using a special needs trust is to provide a means to improve the quality of life of the disabled beneficiary without jeopardizing current or future eligibility for means tested benefits such as SSI and Medicaid. However, because of resource limitations, financial assistance including gifts and inheritance from family and friends, can adversely affect the disabled individual's eligibility for Medicaid and SSI. The current resource limit for Medicaid and SSI benefits is anything in excess of $2000. This is where the Alabama Family Trust fulfills that special need. The Alabama Family Trust was created under Alabama Statute and provides for the establishment of a trust from which funds may be disbursed to supplement the care, support and treatment of the designated disabled person or beneficiary. In short, we can protect the assets of an elderly person entering a skilled nursing home, help enable them to be eligible for Medicaid, and use their own assets in a SNT to preserve and maintain quality of life by paying for goods and services that they need in addition to the core assistance provided by Medicaid.