Wednesday, May 8, 2013
INTO WHAT CONTEXT DO MEDICARE AND MEDICAID PLAY A PART, WHEN PLANNING A "SPECIAL NEEDS TRUST" FOR A DISABLED LOVED ONE?
A "SUPPLEMENTAL NEEDS TRUST" MUST HAVE A PROVISION ALLOWING A STATE TO RECOUP MEDICAL EXPENSES THAT THE STATE MAY HAVE PAID OUT ON BEHALF OF A BENEFICIARY.
The specific recoupable medical expenses may vary from State to State, so make sure you work with your attorney, when and if setting up a Supplemental Needs Trust for your loved one, so that you cover all the bases; make sure that your intent towards your loved one may be carried out in a the ways that you make clear (a) in the Trust, (b) according to your Letter of Intent regarding the purpose of the Trust, and (c) consistent with the laws and regulations of your State!
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