Tort Settlement Assistance – St. Louis Elder Law Attorneys
From Nikki’s interview for the Masters of Estates & Probate series on ReelLawyers.com.
If you, a loved one, or a client has special needs, you know how critical the continued receipt of government benefits can be. The strict income requirements of programs such as SSI and Medicaid do not provide much of a margin for those receiving benefits to have and to acquire assets and income. Unfortunately, this means that something that would usually be celebrated, such as a substantial personal injury or tort settlement, can end up causing anxiety and lost benefits.
Have you or a loved one been awarded a settlement, but receive government assistance? Do you have a client who has been awarded a settlement, but that could jeopardize the receipt of government assistance? If so, time is of the essence to preserve the continued receipt of those benefits. Reach out to our office so that we can design and implement a plan that puts your tort settlement to good use without causing you or a loved one to be disqualified from important government benefits. We frequently work with personal injury attorneys to help their clients get court-approved special needs trusts to prevent the loss of government benefits.
As practitioners of elder law, our team remains committed to seeing our clients gain continued assets to critical government benefits like SSI and Medicaid. If you or a client have received a tort settlement, or will be receiving one in the near future, we can strategize a way that the proceeds from your settlement will not only avoid the receipt of income-based government benefits, but will instead go towards improving the quality of life for a person with special needs that you care about. This can be accomplished through the proper design of a Special Needs Trust.
Special Needs Trusts, however, have important requirements that must be met in order to successfully achieve the objective of providing for a person with special needs without risking the loss of government benefits. For example, distributions from the trust must be properly made only for qualifying expenses.
For assistance in managing a tort settlement to support a loved one or a client with special needs without jeopardizing government benefits, our firm is here for you.
We encourage you to contact our St. Louis attorneys to get the advice you need. Together, we can discuss your long-term goals and advise you on planning that will allow you to reach those goals.