The complexity of the Medicaid system can be staggering for those who have never dealt with it. Many of today’s aging seniors are under the belief that since they have spent their working lives paying into systems like Social Security and Medicaid, they will be able to receive benefits without question when the time comes. Unfortunately, with the reality of today’s economy, this is not always the case. The inability of hardworking Americans to get assistance from programs like Medicaid has led many families to use alternative methods, such as a special needs trust in Meriden, CT, in order to qualify.
Seniors in need of expensive medical care or attention may find that getting help from a government program like Medicaid is in fact much more difficult than they anticipated. After a lifetime of hard work and saving, the average aging couple may have a home, a car, and some retirement savings. While these assets may not seem extravagant, it can be enough to disqualify them from Medicaid benefits. In the case of someone diagnosed with Alzheimer’s or another form of dementia, the need for expensive, full-time care can make getting approved by Medicaid the only option. Accordingly, some seniors are left with only two options: either sell the home they live in, or place the burden of these expenses on their children.
Setting up a special needs trust in Meriden, CT, though it may never have crossed the senior’s mind before, is often the best way to handle this situation. This type of trust protects the assets of the senior without allowing them to be counted as assets for the purpose of qualifying for Medicaid. While the concept can be complicated, it is worth taking the time to understand.
Talk to our elder law attorney today to learn more about the benefits of a special needs trust in Meriden, CT. For more information regarding Special Needs Trust,contact Allaire Elder Law today!