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What Is Indianapolis Supplemental Needs Trust?

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You may have a family member with special needs. People with disabilities often rely on need-based government benefits. Learn more about Indianapolis supplemental needs trust in this presentation.

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What Is Indianapolis Supplemental Needs Trust?

  1. 1. SUPPLEMENTAL NEEDS TRUST?
  2. 2. Personal Planning
  3. 3. There is no one-size-fits-all estate plan, because each family is unique from every other 131‘a1“1‘”<La1§1‘4*FT . ‘I .1 3 (( )4 (W A'l"I‘()RNl; YS AT LAW
  4. 4. Awell constructed estate plan will be carefully crafted to provide for each inheritor in the ideal manner : l .1 3 (( )4 (V A’l"I‘()RNl; YS AT LAW
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  6. 6. You may have a family member with special needs FRANK 81 KRAFT : VRUTI SI()N: I ('()Rl’()RxT'l()N A'l"I‘()RNl; YS AT LAW
  7. 7. People with disabilities often rely on need-based government benefits FRANK 81 KRAFT : l‘R()TTl()N: l ('()Rl’()RxTI()l' A’l"I‘()RNl; YS AT LAW
  8. 8. Medicaid and Supplemental Security Income
  9. 9. Medicaid is a source of health insurance for people with limited financial resources FRANK 81 KRAFT : l‘R()Til()N: l ('()Rl’()RxTI()I' A’l"I‘()RNl; YS AI LAW
  10. 10. You do not have to be disabled to qualify for Medicaid, but many people with special needs do qualify for the program FRANK 81 KRAFT / l‘R()Tl'l()Nx'I ('()Rl’()RxTl()l' A’l"l‘0RNl; YS AT LAW
  11. 11. Supplemental Security Income is a need-based program that provides financial support for people with disabilities 1Wm : l . l x ((I )4‘ (V A’l"l‘ORNl; YS AT LAW
  12. 12. Impact of an Inheritance
  13. 13. If a person who is enrolled in these programs was to receive a direct inheritance, there would be a change in financial status FRANK 81 KRAFT / l‘R()Il'l()Nx'I ('()Rl’()RxTl()l' ATTORNEYS AT LAW
  14. 14. Since Medicaid and SSI are need- based programs, an improvement in financial status can result in a loss of eligibility FRANK 81 KRAFT / l‘R()Il'l0Nx'I ('()Rl’()RxTl()I' ATTORNEYS AT LAW
  15. 15. FRANK 81 KRAFT A PROFESSIONAL CORPORATION ATTORNEYS AT LAW
  16. 16. To preserve government benefits, you could create and fund a supplemental needs trust FRANK 81 KRAFT / l‘R()Il'l0Nx'I ('()Rl’()RiTl()i' A’l"l‘ORNl; YS AT LAW
  17. 17. The loved one with a disability that you want to provide for would be the beneficiary FRANK 81 KRAFT / l‘R()Il'l0Nx'I ('()Rl’()RiTl()i' A’l"l‘ORNl; YS AT LAW
  18. 18. You would also name a trustee to administer the trust FRANK 81 KRAFT : VRUII SI()N: I ('()Rl’()Rxl'l()N A'l"l‘()RNl; YS AT LAW
  19. 19. Improved of Life I I ‘ I . E
  20. 20. Under program rules, the trustee could use assets in the trust to satisfy some of the beneficiary's unmet needs FRANK 81 KRAFT / l‘R()Il'l0Nx'I ('()Rl’()RiTl()i' A’l"l‘ORNl; YS AT LAW
  21. 21. As long as the expenditures were for approved purposes, benefit eligibility would not be impacted FRANK 81 KRAFT / l‘R()Il'l0Nx'I ('()Rl’()RiTl()i' A’l"l‘ORNl; YS AT LAW
  22. 22. FRANK 81 KRAFT A PROFESSIONAL CORPORATION ATTORNEYS AT LAW
  23. 23. In some cases, Medicaid will seek recovery from the estate of a benefit recipient after his or her passing FRANK 81 KRAFT . v’1‘R()Il'l0N3'I ('()Rl’()RiTl()iV A’l"l‘ORNl; YS AT LAW
  24. 24. When a supplemental needs trust is funded by a third-party, the remainder in the trust would not be subject to Medicaid recovery efforts FRANK 81 KRAFT . v’1‘R()Il'l()N3'I ('()Rl’()RiT1()iV A’l"l‘ORNl; YS AT LAW
  25. 25. Schedule a Free Special Needs Planning Consultation
  26. 26. If you take the right steps, you can provide for a loved one with special needs in the ideal manner FRANK 81 KRAFT . v’1‘R()Il'l0N3'I ('()Rl’()RxTl()iV A’l"l‘ORNl; YS AT LAW
  27. 27. Our firm would be glad to help if you would like to learn more FRANK 81 KRAFT . v' l‘R()Ill()N3l ('()Rl’()RxT1()iV A’l"I‘()RNl; YS AT LAW
  28. 28. Feel free to contact us to set up a no obligation consultation
  29. 29. 1" 317/, > «“”x*é‘#l-~ 1 1 1: iii , :", i"'? F.. I,IV‘i. i1§1‘tt_. iJE. IFiLL, 131: um

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