Third-Party Special Needs Trusts

Tax Options for Third-Party Special Needs Trusts

This issue of The Voice® is by Sean R. Beck and Evan M.E. Barrett, who are colleagues of SNA member Charlene K. Quade of C.K. Quade Law, PLLC. Located in Boise, Idaho, the firm is dedicated to serving clients in communities throughout the state in the areas of special needs planning, settlement planning, Medicaid and long-term care planning, estate planning and disability and elder law.

2023-08-18T11:42:22-04:00Tags: Taxes, Third-Party Special Needs Trusts|

Buying a House with a Third-Party Special Needs Trust and Medicaid Repayment

No Medicaid repayment is necessary upon the beneficiary’s death for third-party supplemental needs trusts. But what happens if the third-party trust purchases a home for the beneficiary, is it subject to the Social Security Administration’s (SSA) one-third reduction rule? The following answers that question.

2023-08-18T11:27:45-04:00Tags: Finding Answers Housing, Government Benefits, In-Kind Support and Maintenance (ISM), Medicaid, Social Security, Third-Party Special Needs Trusts|