Before an individual receiving needs-based government benefits accepts a cash settlement, payout from a successful accident or injury case, or an inheritance, it is important to consider special needs planning. It is an unfortunate reality that many individuals are unaware of the negative impact that receiving such funds will have on their benefits. Disabled individuals who receive Supplemental Security Income and/or Medi-Cal benefits often do not realize that by simply accepting an inheritance or a settlement award, they will soon be terminating their eligibility for these benefits and services because they are now “over resourced.” Thoughtful and effective planning, such as establishing a Special Needs Trust, is necessary before accepting an inheritance or a settlement in order to maintain their benefits eligibility.
With such proper planning, individuals can maintain their current and future benefits eligibility which they often times rely on for food, shelter, and medical care while at the same time allowing the funds they will be receiving to be utilized for medical care and services which are not otherwise covered by public benefit programs. This provides individuals with special needs to function at their fullest capacity and provide them with the opportunity to live a better quality of life and promote their overall well-being.
HOW TO GET HELP
If you or a loved one is about to receive a settlement award or inheritance, contact our office at (714) 374-2244 to schedule a consultation. Together, we can begin the process of designing a plan to ensure your benefits eligibility is preserved.
