Special Needs Trust Rules
Description
How to fill out Trust Agreement - Family Special Needs?
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FAQ
SSDI does not depend upon having limited assets, and it is not affected by distributions from a Disability Trust.
Funds held in a properly drafted special needs trust (SNT) will not affect a Supplemental Security Income (SSI) or Medicaid recipient's benefits. However, funds disbursed in a manner that violates SSI or Medicaid rules can impact these benefits.
The trustee works in very close contact with the beneficiary and/or their caregiver to manage the trust and its financial distributions to pay for these things. The main takeaway regarding distribution of SNT funds is this: The beneficiary never sees the money directly, but the money is used to pay for their needs.
Cons of Special Needs Trusts The trust must be maintained, and yearly management costs can be high. Depending on who manages the fund, there may be a minimum amount required to set up the trust. It may be financially difficult for the settlor to actually establish the trust, depending upon their circumstances.
The only income that would affect SSDI benefits is earned income that exceeds $1,170/month. Inheritances are unearned income. As such, any inheritance you receive will not affect SSDI benefits.