What is a supplemental security income (SSI) trust?

A supplemental security income trust (SSI trust) is a type of trust created under disability planning law in California. It is designed to help people with disabilities who need financial assistance to pay for expenses such as medical care, housing, food, and other necessities. The trust is funded using assets that are not counted as part of the recipient’s income when determining eligibility for public benefits. When planning for a supplemental security income trust, the person creating the trust will appoint a trustee to handle the financial matters for the recipient. The trustee will be responsible for managing the funds and ensuring that it is used for the well-being of the recipient. The trust may also provide the recipient with an income, allowing them to pay for the cost of living and medical expenses. This type of trust is an effective way for people with disabilities to get the financial assistance they need without sacrificing their public benefits. However, it is important that the trust be correctly structured and managed to ensure it is in compliance with disability planning law in California.

Related FAQs

What rights do I have under the ADA?
What is a long-term disability insurance policy?
What is a Letter of Intent?
What is a life care plan?
What is a Medicaid waiver program?
What are the benefits of a living will?
What is an Advanced Medical Directive?
What is a testamentary trust?
How do I create a special needs trust?
What is a charitable trust?

What is a supplemental security income (SSI) trust?

Related FAQs

Related Blog Posts