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<blockquote data-quote="slsh" data-source="post: 412091" data-attributes="member: 8"><p>We are doing this with- oldest. Basically, the special needs trust stipulates that before any funds from the trust can be used, all state and federal funding resources must be exhausted. That way, we can leave Boo $$ and it will not affect his eligibility for SSI/Medicaid, etc., but the funds can be used for things not covered by SSI, etc. You need to have it set up by an attorney who is *very* familiar with- special needs trusts because if it's not set up correctly, those funds will have to be used before public funding can be used. Boo requires 24/7 care, so whatever amt ends up in his trust would get eaten up in a heartbeat if it has to be used first.</p><p></p><p>Even though thank you is on SSI, we are not setting him up for a special needs trust. Our wills set trusts for our younger 3 kids that they cannot access until they're 45 or so (assuming we're dead by then - if not, oh well, they get it when we croak). To be honest, unless we win the lottery, there's not going to be a huge estate to leave anyway and if I recall correctly, I think we're leaving more for Boo's care than for the other 3.</p></blockquote><p></p>
[QUOTE="slsh, post: 412091, member: 8"] We are doing this with- oldest. Basically, the special needs trust stipulates that before any funds from the trust can be used, all state and federal funding resources must be exhausted. That way, we can leave Boo $$ and it will not affect his eligibility for SSI/Medicaid, etc., but the funds can be used for things not covered by SSI, etc. You need to have it set up by an attorney who is *very* familiar with- special needs trusts because if it's not set up correctly, those funds will have to be used before public funding can be used. Boo requires 24/7 care, so whatever amt ends up in his trust would get eaten up in a heartbeat if it has to be used first. Even though thank you is on SSI, we are not setting him up for a special needs trust. Our wills set trusts for our younger 3 kids that they cannot access until they're 45 or so (assuming we're dead by then - if not, oh well, they get it when we croak). To be honest, unless we win the lottery, there's not going to be a huge estate to leave anyway and if I recall correctly, I think we're leaving more for Boo's care than for the other 3. [/QUOTE]
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