A $2,000 asset limit stands between a disabled beneficiary and the government benefits keeping them afloat. Elder law attorney Cary Moss joins the show to walk families through supplemental needs trusts and why getting this planning wrong can cost far more than money.
Cary breaks down the three types of trusts families encounter, first party, third party, and pooled, explains what each one covers, and draws a clear line between what a trust can pay for and what will trigger a loss of benefits. She also addresses Florida-specific programs, from ABLE United accounts to vetted pooled trust organizations like AGED and Guardian Trust Foundation.
The episode closes with a scenario every Orlando parent should hear: a $400,000 life insurance policy named the wrong beneficiary, and what that mistake sets in motion.
In this episode, you will hear:
- Why leaving money directly to a disabled child can eliminate their government benefits immediately
- The $2,000 asset threshold that determines SSI and Medicaid eligibility
- First party, third party, and pooled supplemental needs trusts and when each applies
- What a supplemental needs trust can and cannot pay for without triggering benefit loss
- How to choose the right trustee and what that person needs to know about public benefits
- Florida-specific resources including ABLE United accounts, AGED, and Guardian Trust Foundation
- Why understanding which Medicaid program a beneficiary is on matters before any planning begins
Resources from this Episode
https://sawyerandsawyerpa.com/special-needs-planning/
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