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Received an Inheritance? You May Need a Special Needs Trust

2024-10-206 min read
An unexpected inheritance can be a crisis for someone on benefits. Act quickly to protect coverage. ## The Problem ### Asset Limits SSI: $2,000 individual, $3,000 couple Medicaid: Similar limits ### What Happens Benefits can be terminated once assets exceed limits. ## The Solution: First-Party SNT A first-party (self-settled) special needs trust can hold the inheritance. ### Time Is Critical You have limited time to establish the trust and deposit funds. ### Requirements - Beneficiary must be under 65 - Must be disabled per Social Security standards - Must be established by parent, grandparent, guardian, or court ## Over 65? A pooled trust is your only option for a self-settled SNT. ## Steps to Take ### Step 1 Don't spend the inheritance on anything that creates assets. ### Step 2 Contact Pioneer Credit Solution immediately. ### Step 3 Establish and fund the SNT quickly. ### Step 4 Report to Social Security and Medicaid. ## Don't Wait Every day matters when protecting benefits. Call Pioneer Credit Solution at 1-888-271-2293.

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