Don't let your loved ones lose Medi-Cal! The importance of special needs trust!

Don’t let your loved ones lose Medi-Cal! The importance of special needs trust!

01.20.2025

A Special Needs Trust is a special type of Living Trust that is designed to ensure the care of our loved ones when we die. A Special Needs Trust helps our loved ones live a fuller life while still retaining important benefits. If our children or parents are incapacitated and are receiving government benefits, such as SSI or Medi-Cal, leaving them a direct inheritance may cause them to lose access to these programs. What a Special Needs Trust does:

Asset protection: Assets in this trust are not counted as part of the beneficiary's estate, so they will not affect their benefits.
Expense support: This trust is used to pay for additional needs such as therapy, personal care, and recreational activities without affecting government benefits.
Long-term financial stability: Ensuring our loved ones have sustainable financial support throughout their lives without losing access to government programs.
Having a Living Trust not only ensures control of assets, but the main goal of a Living Trust is to help us avoid the Probate process through the Court. Probate costs can range from 5% -10% of the value of our total assets and can take up to 2-3 years for the Court to resolve.

VINH DOAN LAW OFFICE

Estate Planning | Taxation | Probate | Business

Vinh N. Doan, MSIM, J.D., LL.M. in Taxation

Licensed in CA and TX

10971 Garden Grove Blvd., Suite G

Garden Grove, CA 92843

Cell:(714) 332-9700

Don’t let your loved ones lose Medi-Cal! The importance of special needs trust!

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