For individuals with special needs, ensuring long-term financial security can be a complex and daunting task. Structured settlements are a valuable tool that can enhance the security of a special needs trust while preserving eligibility for essential government benefits.

Structured settlements provide guaranteed, tax-free income that can be directed toward funding a special needs trust. A special needs trust is a legal arrangement that allows assets to be held for the benefit of someone with a disability while still allowing them to receive government assistance like Medicaid or Supplemental Security Income (SSI). By using a structured settlement to fund the trust, the individual can receive regular, predictable payments without disrupting their eligibility for government benefits.

Combining structured settlements with a special needs trust can create a seamless plan for managing long-term care, medical expenses, and other needs. The payments from the structured settlement can be deposited directly into the trust, ensuring that the recipient has a steady income while maintaining their benefits. Additionally, structured settlements provide a stable income stream over time, which can support the beneficiary for their entire life, offering peace of mind to both the recipient and their family.

For assistance with planning for a loved one’s future, contact us today.

– Parmelee Brothers