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Families who have a child with a disability understand that his or her basic needs can be covered through Medicaid/SSI. However, eligibility requires impoverishment. Thus, there is no money to pay for “extras” like going to a movie or taking a vacation. If a person with a disability receives a lump sum of money that could be used to pay for these supplemental items, he or she will most likely no longer be eligible for government benefits. Until recently, families have been told to disinherit their child, who has a disability, when formulating their estate plans, to avoid the loss of any current or future benefits.
Now, thanks to new laws, The Disability Foundation is able to offer an alternative to disinheritance through its community pooled trusts. Through its Ohio Community Pooled Annuity and Flexible-Spending Trusts, families are able to include their loved ones in their financial planning. Individuals who participate in either, or both, of these Trusts will be able to qualify for Medicaid and SSI while still preserving assets to pay for supplemental items. These items will help to pay for life-enrichment items, such as education, vacations, music lessons, theater tickets or even cable television to help promote the enhancement of their loved one’s life.
For more information on The Disability Foundation and our trusts check out our Frequently Asked Questions (FAQ) section. |
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| The Raggio Family |
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My husband and I have a daughter, 21, with a moderate cognitive disability. She lives at home with us and will continue to do so into the foreseeable future.
In early 2006, we heard of a new trust through the Disability Foundation Inc. This trust – The Ohio Community Pooled Flexible Spending Trust – was the answer to our need for a flexible trust to provide for Krista’s supplemental needs that complies with all the requirements of the SSI and Medicaid programs.
This trust was extremely easy to establish and has provided Krista many different opportunities. We have used the trust to pay for exercise classes, therapeutic horseback riding (see picture), dance classes, cable TV, companions, vacations, camps and other various activities that bring much enjoyment to Krista. This has meant a lot to her. As the Certified Elder Law attorney Jesse Beasley said: “the Trusts can be as innovative as the individual’s ability to enjoy the world around him…”
Kevin Hayde, the Executive Director of the Disability Foundation, was (and is) extremely helpful in explaining and establishing the Trust and answering any questions we had. The flexibility and ease of use of this Trust is a major advantage and the benefits are only limited by the amount that is available in the Trust. |
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