Special Needs Medicaid Payback Trusts
Michigan Medicaid/Payback Special Needs Trusts Lawyers – Detroit Special Needs Law Firm
Are you concerned about the cost of care draining assets needed for quality of life?
If you are responsible for managing assets for a family member with special needs, or you are planning for your own future medical expenses, you may want to consider establishing a 1st Party Trust. First-Party Trusts are funded with the beneficiary's own assets, often from an insurance settlement, an award from a lawsuit, or an inheritance.
Through Special Needs Planning, funds can be preserved to enhance the quality of life and quality of care even after the beneficiary of a Trust qualifies for government assistance such as Supplemental Security Income (SSI) or Medicaid. If you would like to discuss trust planning with an attorney, contact our Farmington Hills office and make an appointment for a consultation.
The terms of the Trust must be carefully drafted so the funds are not used for needs already provided for through government assistance programs, and that the necessary terms are included in order to maintain eligibility for government benefits, such as paying back the state upon the death of the individual for government benefits provided during his or her lifetime. In addition, it is important to choose a well-qualified Trustee to manage the funds accordingly to protect those government benefits.
At Mall Malisow & Cooney, P.C., we take a holistic approach to ElderCare and special needs planning. Our Disability Law attorneys work with our staff social worker to include all private and public resources in planning, providing the highest quality of care and peace of mind.
Any Trust should be developed as part of the process of essential legal planning. We help clients with: