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Feb 19, 2009

New Rules On Special Needs Trusts

David Lillesand, a Florida attorney, has prepared a detailed analysis of the recent changes to Social Security's Program Operations Manual Series (POMS) concerning Special Needs Trusts.

I am not a fan of Special Needs Trusts. I think that in almost every case there is a better way of handling a situation in which a person who is entitled to Supplemental Security Income (SSI) receives a relatively large sum of money from an estate or personal injury settlement. These other methods include paying off debts, making home repairs, buying a home, buying a car, buying clothing, buying appliances and furniture, taking a trip to visit family or friends you have not seen in years because you were too poor to travel, etc. David is well aware of these other means of dealing with this situation and I am aware that if the amount you receive is a million dollars the methods I am suggesting will not be enough. If you are involved in drafting Special Needs Trusts, you need to read David's materials.

2 comments:

Anonymous said...

If you receive a million $, you no longer need SSI.

Anonymous said...

Actually mr hall,the resource limit needs to be raised.It's an unfair punishment to the disabled.All representatives should get behind such legislation.