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Nov 23, 2011

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Estate Planning

Question: SS Payments to Disabled & Trusts

Situation: Becoming an adult, name him Larry, permanent disability with Down Syndrome diagnosis. It is understood Larry can have no countable assets which will make him ineligible to receive government benefits. Let's say Larry applies for and receives SSI, SSDI, does it matter which one? Here's my curiosity. The payments I assume are made to Larry directly, in name, electronically to an account in Larry's name. Correct? These monies cannot be allowed to accumulate, lest Larry be disqualified from future benefits, correct? How is that done? Larry's guardian must immediately take all monies and relocate them elsewhere? Assume next Larry's folks both pass, leaving Larry with a SNT or Third Party trust. Can the SSI payment be made directly to the trust, or does the trustee/guardian need to be vigilante in taking any SSI money and moving it from one account to the trust? Seems simple and obvious questions. Just don't want to have something get screwed up.  (Nov 23, 2011 | post #1)

Estate Planning

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test - i already posted something, where did it go?  (Nov 23, 2011 | post #1)