A special needs trust Arizona can literally be a lifeline for a person with disabilities that can threaten to derail any plans for long-term care, both in terms of physical care and financial stability. According to Mary Ann Ehlert, who founded Protected Tomorrows, a special needs resource and advisory group, midlife is about the time that special needs individuals start to face particularly difficult challenges. At this point, they may have lost their parents – who tend to be a stable source of support throughout much of the person’s life – and are forced to try to make their own plans for their care, if they are capable of such a thing.
This is why a special needs trust Arizona is so important. Parents or other caregivers of special needs individuals can plan ahead, funneling financial resources and other benefits into the special needs account. This ensures that the person in question can still receive necessary benefits, both financial and insurance, from the federal government because of their disability. The monies from the special needs trust Arizona provides an extension of those benefits by covering items that might not be covered by the monthly stipend or even through the insurance benefits that the special needs person may have.
It should be noted that Ehlert says that governmental benefits are a key part of a special needs individual’s financial picture. These benefits are a sure thing at a time when money can easily go from readily available to tight quickly. In fact, this is the purpose of the special needs trust Arizona, because it allows a disabled individuals to gain access to these vital benefits that can sustain them through the leaner times.
When setting up a special needs trust Arizona, it is important to designate a person that can be trusted to do the right thing for the person in question. They need to be responsible in administering the funds from the trust account and arranging the finances in such a way that the special needs person has long-term care plans in place should they find themselves in a situation where they are no longer eligible for governmental benefits or have to sustain a lifestyle – such as living in an assisted care facility – that requires a great investment of financial resources than what governmental benefits may supple. A responsible trustee of a special needs trust Arizona will take all of this into account and more.