A special needs trust can allow a disabled loved one to receive supplemental care while maintaining their Medicaid and/or SSI benefits. Drafting and administering the trust must happen with a clear understanding of how the SNT works in conjunction with government benefits. If the trustee, or their special needs trust attorney, does not follow the process correctly, the beneficiary could lose their government benefits.
ABLE (Achieving a Better Life Experience) accountsare available for any Illinois resident who developed a qualifying disability prior to their 26th birthday. Any person can contribute to that individual’s ABLE account as long as the total contributed funds are not more than $14,000 per year. ABLE accounts with less than $100,000 do not count toward the disabled individual’s personal liquid assets.
Until just a few short decades ago, victims of personal injury were barred from collecting monetary damages in most states if they were even slightly at fault, even if the injuries were mostly due to another party’s actions or negligence. Fortunately, the state of Illinois has adopted what is commonly referred to as the Modified Comparative Negligence Rule to help soften the financial blow that often occurs to personal injury victims.