GRANITE BAY, CA / ACCESSWIRE / April 24, 2015 / TomCoxLaw.com, a firm specializing in Living Trusts, Special Needs Trusts, and Estate Plans, reveals a pervasive problem in the Special Needs Community. Many special needs children/adults will need to offset their staggering medical costs with Federal and State Government Medical Benefits knows as Medicare and Medicaid.
The problem is if you do nothing, your special needs child/adult will get disqualified from these Government Benefits. The estimated worth of these benefits often exceeds One Million Dollars.
Since the medical programs offered by the Government are income-based, inheriting money directly will "blow" out their benefits and disqualify them. This will force the special needs child/adult to live in poverty for years until they can re-qualify, often going without much-needed medical care.
Fortunately, this can all be avoided by setting up a special kind of trust called a Special Needs Trust. This special needs trust is an irrevocable trust (as opposed to a living trust which is revocable) and allows the special needs child/adult to receive money that will not get them disqualified from Government benefits.
TomCoxLaw has created a Free Special Needs Trust Handbook, which helps Special Needs Parents identify whether or not entering into a Special Needs Trust would be ideal for them. This helpful guide includes information on the difference between a special needs trust and a living trust, which actually work hand-in-hand. It also provides useful unique information on the subject of Special Needs Trust administration that is difficult to find from other resources.
One thing that TomCoxLaw.com has made clear is that those interested in a Special Needs Trust should be wary about additional hidden costs from both in-office and online transactions. In-office special needs trusts can costs anywhere from $2500-$5000. The online method of obtaining a Special Needs Trust can cost considerably less and TomCoxLaw has a half-off coupon in his Free Special Needs Trust Handbook, making this trust affordable for special needs families and preserving their Government medical benefits.
Tom Cox is the CEO of TomCoxLaw.com, the Leading Provider of Living Trusts and Special Needs Trusts and Author of over 50 Books on Estate Planning.
For questions or concerns regarding this press release, or for more information on TomCoxLaw.com, please use the following contact information to get in touch:
Company Name: TomCoxLaw.com
Contact Name: Tom Cox
Phone Number: 1 (855)-494-7552 (Toll Free)
E-mail Address: info@tomcoxlaw.com
Mailing Address: 4120 Douglas Blvd, Granite Bay CA 95746