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A special needs trust, also known as a supplemental trust, is a legal document created by the family or guardians for the benefit of a disabled person who cannot manage their own finances. These trusts are designed to provide assets for the health and welfare of disabled individuals, often without jeopardizing government assistance such as Supplemental Security Income (SSI), Medicaid and other programs.
There are a couple of different ways to set up this trust, including one that uses the beneficiary’s assets and pays back Medicaid disbursements after death, so work with an attorney experienced with Medicaid planning and trusts.
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