June 2017 – Ryan Robnett recently interviewed Elder Law Attorney and Alabama Family Tust Executive Director Melanie B. Holliman on the Golden Years in Alabama radio show. We appreciate Ryan’s kind words about Alabama Family Trust and his help in spreading the word about our work. You can listen to the podcast here.
Ryan and Melanie covered a wide range of elder law topics but focused on Alabama Family Trust at the end of the interview.
What is Alabama Family Trust?
Alabama Family Trust is a nonprofit pooled trust company that administers special needs trusts for the disabled.
Federal and state laws allow special needs trusts to be created for individuals with disabilities. Assets placed in the trust are not considered to be the assets of the disabled individual by Social Security and Medicaid when the individual is applying for government benefits. This situation allows an individual to meet the strict financial requirements to be eligible for government benefits.
Individuals who are 65 years of age and older are presumed to be disabled if they are in a skilled nursing facility. They can use a special needs trust to protect assets and qualify for benefits to pay for their nursing home care.
Alabama Family Trust holds the assets for these individuals and manages the assets so eligibility for government benefits is possible.
How can Alabama Family Trust help?
Money placed with Alabama Family Trust is ignored by Medicaid when determining eligibility for coverage and nursing home benefits.
Normally, Medicaid would require you to spend all of your money except for a small amount ($2,000) before you can apply for Medicaid. Alabama Family Trust can hold the assets over $2,000 so you can qualify for Medicaid. The assets in trust can be used to provide for needs that Medicaid doesn’t cover.
Would you like to find out more about a Special Needs Trust through Alabama Family Trust? Our staff will be glad to work with your estate lawyer to meet your needs. Contact us today!