Parenting an adult with special needs can present unique financial challenges. A Special Needs Trust can help to ease the burden by providing additional resources without compromising your child's eligibility for government benefits. Funds from a trust may be used to cover things like housing, medical expenses, and other services that contribute to quality of life - allowing you peace of mind knowing your loved one is provided for in every way possible. Let’s take a look at some of the items that can be paid for using funds from a Special Needs Trust.
One of the most important uses for funds from a Special Needs Trust is paying for medical expenses. This could include anything from doctor visits to dental care to physical therapy and beyond. The benefit of using funds from a Special Need Trust for medical expenses is that it does not count against any public benefits your loved one might receive, such as Supplemental Security Income (SSI) or Medicaid.
Another great use for funds from a Special Needs Trust is to pay for recreational activities such as vacations, sports leagues, and hobbies like art classes or music lessons. These activities give your loved one opportunities to socialize, explore new interests, and live out their dreams in ways they may not have been able to do otherwise due to limited resources.
Finally, funds from a Special Needs Trust can also be used to cover in-home care costs such as home health aides or respite care services. These services are invaluable when it comes to ensuring that your loved one has the support they need at all times—especially if you are unable to provide this assistance yourself due to work or other commitments. In-home care can also help your loved one stay in their own home instead of having to move into an assisted living facility due to lack of support or supervision at home.
Special Needs Trusts Open the Door for More Options!
A Special Needs Trust offers many options when it comes to providing financial assistance without sacrificing eligibility for public benefits programs like SSI and Medicaid. While there are limits on what these trusts can pay for—such as food and housing—there are plenty of other items that they can cover including medical expenses, recreational activities, and in-home care services. With careful planning and wise decisions about how these funds are allocated, you will be able to ensure that your loved one with disabilities has the financial support they need. For help getting started with the process of creating a Special Needs Trust for your loved one, simply contact our Durham County special needs attorneys at 919-376-2361 to schedule a consultation.