Q: Does a special needs trust impact my ssi and medicaid in michigan?
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A:
A special needs trust can help you maintain your eligibility for SSI and Medicaid in Michigan. This type of trust is designed to hold and manage assets for your benefit without affecting your qualification for these essential government programs. By placing assets into a special needs trust, the resources are not counted as your personal assets, allowing you to receive benefits without penalty.
The trustee of your special needs trust will manage the funds and make disbursements for your needs that are not covered by SSI or Medicaid. These can include items like medical expenses, personal care items, education, and other quality-of-life improvements. This arrangement ensures that you can have additional financial support without risking your benefits.
It's important to follow the legal guidelines when setting up and managing a special needs trust to ensure compliance with state and federal regulations. Consulting with an attorney experienced in special needs planning can provide you with the guidance necessary to establish and manage the trust correctly.
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