ERIC Number: ED416649
Record Type: Non-Journal
Publication Date: 1997-Oct
Reference Count: N/A
Future Planning: Making Financial Arrangements with a Trust. The Arc Q & A.
Berkobien, Rick; Varnet, Theresa
This fact sheet uses a question-and-answer format to summarize information on estate planning and trusts for parents of a child with mental retardation. Questions and answers address the following topics: the importance of careful financial planning for someone with mental retardation; how inheritances affect the child's eligibility for Medicaid-funded services and Supplemental Security Income (SSI); use of a trust to ensure a son or daughter's financial security without jeopardizing the individual's SSI and related benefits; types of trusts that are commonly used for this type of planning; the "master cooperative trust"; the process of setting up a trust (testamentary and inter vivos); and new legislation allowing preservation of a child's eligibility for SSI or Medicaid if the child has already received an inheritance. (DB)
Descriptors: Child Rearing, Compliance (Legal), Eligibility, Estate Planning, Federal Legislation, Financial Support, Long Range Planning, Mental Retardation, Parent Role, Trusts (Financial)
Arc National Headquarters, 500 E. Border St., S-300, Arlington, TX 76010; phone: 817-261-6003; TDD: 817-277-0553.
Publication Type: Guides - Non-Classroom; Information Analyses
Education Level: N/A
Authoring Institution: Arc, Arlington, TX.