Indiana Special Needs Trust For Ssi
Description
How to fill out Special Needs Irrevocable Trust Agreement For Benefit Of Disabled Child Of Trustor?
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FAQ
When you create and fund the trust, you draw up a trust agreement. In this agreement you name a trustee to administer the trust. The beneficiary cannot directly handle assets that have been conveyed into the trust. However, the trustee can use of the trust's assets to address the supplemental needs of the beneficiary.
HOW DOES MONEY FROM A TRUST THAT IS NOT MY RESOURCE AFFECT MY SSI BENEFITS? Money paid directly to you from the trust reduces your SSI benefit. Money paid directly to someone to provide you with food or shelter reduces your SSI benefit but only up to a certain limit.
In general, the trust pays for essential parts of a person's life, such as education, medical treatment and recreation. Specifically, a special needs trust may help your loved one cover the following types of costs: Medical and dental expenses that Medicaid won't provide.
To create a first-party SNT, the government must officially recognize your disability status, and you need to be under the age of 65. The trust will only hold your assets and not serve as a receptacle for funds from other family members.
Section 30-4-10-43 - Beneficiary with a disability (a) This section applies to any trust that has a beneficiary with a disability, without limitation, whenever a special-needs fiduciary for the trust determines that the beneficiary with a disability may qualify for governmental benefits based on a disability, whether ...