Funding a Special Needs Trust

Many different types of resources can be used to fund a Special Needs Trust. They may include your family’s savings, investments in stocks and mutual funds, Life Insurance, Certificates of Deposit (CDs), military benefits, Individual Retirement Accounts (IRAs), real property and standard government benefits. Parents and other family members and even friends can name the trust as a beneficiary in their wills. Your life insurance policy can also name the trust as a beneficiary. Anyone can contribute to the trust at any time. If the trust beneficiary (the special needs individual) inherits money or other property, that too can be placed in the trust as well.

Social Security and Medicaid Benefits
That May Be Available To You

SSI monthly payment (single)                                                                            $674

SSI month payment (couple)                                                                           $1,011

SSI asset limit (single)                                                                                    $2,000

SSI asset limit (couple)                                                                                   $3,000

Substantial Gainful Employment
(the amount you can earn per month
and still retain benefits)

(non-blind)                                                                                                        $980

(blind)                                                                                                            $1,640

(student)                                                                                                        $1,640

Trial Work Period                                                                                               $700
(amount you can earn before the
SSA begins to review your disability

Quarter earnings for coverage                                                                         $1,090
(the amount you must earn per quarter
in order to accrue credit towards SSDI)

Medicaid Standard of Need                                                                                $667
(amount you can earn before you incur a spend down)

Food Assistance Max Allotment                                                                          $200

Monthly HBWD Income Allowance                                                                   $3,159

(Amounts are on monthly basis.)