Arizona Special Needs Trust Comes With A Host of Advantages

When dealing with a special needs individuals, there are a number of considerations to keep in mind, all of which play a role in caring for the person in question. For instance, whatever the disability or special need is likely requires extra care, time and effort than it might taking care of an individual without such needs. Moreover, there is a mental investment in a special needs individual, particularly if that person is a family member or close friend. You want to ensure that they are comfortable, well-taken care of and able to be as independent as possible, without the possibility of being taken advantage of. You also want to avail this person, their caretakers and family members to as many resources as possible. From support groups to an Arizona special needs trust, there are a number of resources available to ensure that an individual with special needs and their caretaker are not only properly supported, but well informed as well.

An Arizona special needs trust is one such way to ensure that a special needs individual is taking advantages of the resources availed to him or her. This type of account is way to funnel financial resources that might be directed towards the special needs individual to them without compromising any additional benefits the person might receive, such as government aid. This is a special account that can either be set up by the beneficiary, if the special needs individual is an adult, or by a family member or caretaker, if the person is unable to handle this process themselves or is under age. There are a number of advantages to have this kind of special needs trust account. Those benefits include:

An Arizona special needs trust account is not a countable asset: This means that any benefits received from the federal government are not affected by the financial resources funneled into this account. Rather, the beneficiary of the account can use the monies deposited into it to pay for living expenses, including rent/mortgage payments, utility payments, food, travel, furnishings and other expenses that contribute to the person’s activities of daily living and well-being. Without the benefits of the trust account, the person might not otherwise be eligible for such benefits, disqualifying them for important medical coverage and/or necessary financial support. The trust monies are not counted as part of the person’s income, so benefits are left intact as a result.
Special needs trusts are not subject to creditor actions: Special needs individuals, and their loved ones, are subject to the same financial hardships as anyone else. With this in mind, to protect special needs individuals, the monies funneled into an Arizona special needs trust account are not subject to the actions of creditors. This means if a creditor sues a special needs individual or a family member, the trust monies will not be considered in the action. These monies cannot be touched to pay off the creditors, as they are often the only means of income, aside from a stipend from the federal government, for individuals living with special needs. Even if the assets of the special needs individual or their family members are seized, this account cannot be included in the seizure of property and assets.
The money is there, no matter what guarding against would-be predators: Taking care of a special needs individual can be expensive. There may be costly treatments and medications to consider, and this expense can be more poignant if the individual is unable to work or is not of age to do so. It can place a considerable financial burden on the person and everyone around them. An Arizona special needs trust ensures that as long as there is money in this account, the beneficiary has access to it and is able to utilize those funds to take care of themselves. Because of the fairly lax nature of the expenses allowable for this account, these monies can be used to pay for just about anything associated with the person’s care. This avoids the ability of an unscrupulous person to take advantage of the special needs individual by spending the money on them; you know it will be used for the individual for which it was intended.

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