Special Needs Trusts
To ensure a safe and secure future for loved ones with special needs, additional assistance is often necessary. Setting up a special need trust can provide your mentally ill and special needs loved ones with this extra support.
What is the Purpose?
A special needs trust is designed for beneficiaries with physical and/or mental disabilities. With this unique type of trust, a disabled person can benefit from assets while still receiving government benefits for their essential needs. Special needs trusts are often also created to help a person with disabilities qualify for needs-based government benefits. Needs-based benefits include resources provided by the federal or state government to individuals who have certain income and resource limits and qualify for Supplemental Security Income (SSI) and Medicaid, or the Arizona Long Term Care System (ALTCS). Setting up a special needs trust can ensure that your disabled loved one child will have the resources needed to pay for services and care over and above what the government provides.
A special needs trust can allow for your loved one to receive ongoing public benefits while also creating a legal option to secure them with long-term supplemental support. Assets from a well-drafted special needs trust in Arizona are not considered countable assets when applying for benefits like: Serious Mental Illness (SMI), Supplemental Security Income (SSI), Medicaid, or AHCCCS and ALTCS in Arizona, vocational rehabilitation, subsidized housing, and other benefits based on need.