Meurer & Potter Law Office, Denver, Colorado
If a child or loved one has special needs, you’ve probably had sleepless nights thinking about what will happen to them when you’re gone. The Meurer & Potter Law Office in Denver can help you rest easy by setting up a D4A Trust, also known as a Special Needs Trust.
As you might already know, government-based financial and medical programs for the disabled, such as Medicaid and Supplemental Security Income (SSI), typically have asset maximums to qualify. Now, if you were to pass away and simply leave $10,000 to your disabled child, the amount would exceed the limits and your beneficiary would lose their eligibility.
This is where a D4A or Special Needs Trust can help you provide greater financial security for your child or a loved one. Limiting their access to funds by having assets controlled by a third party ensures their inheritance is not counted by government programs towards eligibility. While money cannot be used for essentials covered by these programs, such as housing, utilities (water, electric), medical care and groceries, it can be used on supplemental items such as:
- Educational needs – tuition, books, supplies
- Transportation – such as a car or bus pass
- Internet, phone and cable television services
- Medical costs not covered – dental, massage, etc.
- Clothing, books, household items and supplies
- Hobbies, vacation, sports and other amusement
- Room upgrades in an institutional setting
- And much more
If you have a loved one with special needs, talk to the attorneys at the Meurer & Potter Law Office in Denver about setting up a D4A or Special Needs Trust. We’ll walk you through everything and answer any questions you might have along the way.
Call or contact our offices to schedule your free consultation: 303-991-3544