Cantwell & Goldman PA
Call Today for the Answers You Deserve 866-583-9129
In This Section

Protecting loved ones with special needs through estate planning

We create estate plans to express our wishes for how our personal property should be distributed when we pass. This also includes making sure that the people we care for will be taken care of if we are no longer able to. For special needs children and people who receive supplemental security income (SSI) leaving money or property may have unintended consequences.

Basically, federal rules prohibit SSI recipients from receiving benefits if they have more than $2000 in assets. So, a person in financial need could lose their benefits if they inherit money or assets. As such, caregivers must be strategic in this regard.  

This post will highlight a few ways to do so. 

Create a special needs trust - It is important to understand that federal rules do not prevent an SSI recipient from being a beneficiary to a special needs trust. Such a trust works like a traditional trust, where the entity actually owns the assets and a trustee administers it for the recipient's benefit.  

Set up an ABLE account - If a special needs trust is not suitable, an ABLE account may be the proper way to ensure a special needs person is taken care of. Caregivers may set aside up to $14,000 each year to be used for regular living expenses in the future. Moreover, federal law allows these accounts to grow to up to $100,000 without Medicaid or SSI eligibility being affected.

If you have further questions about crafting your estate plan in Florida, an experienced attorney can help.

The preceding is for informational purposes only. It is not legal advice. 

No Comments

Leave a comment
Comment Information

Contact Our Attorneys Today

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Cantwell & Goldman, P.A., Attorneys & Lawyers, Cocoa, FL


Cantwell & Goldman PA
96 Willard St., #302
Cocoa, FL 32922

Toll Free: 866-583-9129
Cocoa Law Office Map


We speak Spanish, Hindi, Mandarin Chinese and Japanese

Review Us