To qualify for a government check and subsidized health care, a disabled person must lead a pauper’s life.
Forget about having more than $2,000 in cash and belongings. And if you do have money to sock away in what is called a special needs trust, prepare to be taxed on it.
Advocates for the disabled are pushing Congress to create a tax-friendly investment vehicle similar to those already in use for retirement savings and kids’ college funds. The accounts would be restricted to paying for day-to-day expenses, such as education, housing, transportation and health care.
read more at Special needs families seek help | StAugustine.com.
Note: To support the site we make money on some products, product categories and services that we talk about on this website through affiliate relationships with the merchants in question. We get a small commission on sales of those products.That in no way affects our opinions of those products and services.