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Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 29102
Experience:  30 years experience representing clients.
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What does it mean TO PLACE MY SETTLEMENT PROCEEDS IN A TRUST

Customer Question

What does it mean TO PLACE MY SETTLEMENT PROCEEDS IN A TRUST TO PROTECT MY MEDICAID, SSI OR OTHER NEED BASED GOVERNMENT BENEFITS
Submitted: 2 months ago.
Category: Legal
Expert:  Loren replied 2 months ago.

Good morning. I a Loren, a licensed attorney, and I look forward to answering your question.

These programs are "needs based". In other words, if you have over the maximum threshold of non-exempt assets you may lose your eligibility for those benefits. Therefore, your attorney or financial planner would create certain legal vehicles to hold the case settlement and not have it count towards your assets, yet still be able to derive benefit from the proceeds

Expert:  Loren replied 2 months ago.

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