A special needs trust can have a positive impact on the eligibility for government benefits in Alaska. By placing assets and income into a special needs trust, individuals with disabilities can maintain their eligibility for important government programs such as Medicaid or Supplemental Security Income (SSI). These programs often have strict income and asset limits, and if an individual exceeds these limits, they may become ineligible for benefits. However, assets held in a special needs trust are not considered as the beneficiary's own assets for eligibility purposes. This allows the individual to continue receiving government benefits while still benefiting from the assets in the trust to enhance their quality of life. It is important to establish the trust correctly and comply with all applicable laws and regulations to ensure that eligibility for government benefits is not jeopardized.

 

Consulting with an attorney experienced in special needs planning is highly recommended to navigate the complexities of setting up a special needs trust in Alaska.  To work with Shortell Law LLC, call 907-272-8181 today.