582 Lynnhaven Pkwy, Suite 100
Virginia Beach, VA 23452
(757) 995-4562
Protecting Essential Government Benefits for Your Loved One
For many individuals with disabilities, government benefits like Medicaid and Supplemental Security Income (SSI) provide crucial support for healthcare, housing, and daily living expenses. However, these benefits come with strict eligibility requirements that can be easily compromised without proper planning.
The Challenge: Preserving Benefits While Building Financial Security
Most government benefit programs have strict asset and income limits. For Medicaid and SSI, individuals typically cannot have more than $2,000 in countable assets. This creates a significant challenge for families who want to provide additional financial support without jeopardizing essential benefits.
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Common benefit-threatening scenarios include:
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Direct inheritance from parents, grandparents, or other relatives
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Life insurance proceeds paid directly to the individual
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Personal injury settlements or other lawsuit awards
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Well-intentioned financial gifts from family members
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Retirement accounts with improper beneficiary designations
Our Approach to Benefit Protection
At Perseverance Planning, we help families navigate these complex rules and establish strategies that protect essential benefits while still providing for enhanced quality of life.
1
Comprehensive Benefit Assessment
We start by evaluating which government benefits your loved one currently receives or may qualify for in the future, including:
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Medicaid (including waiver programs)
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Supplemental Security Income (SSI)
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Social Security Disability Insurance (SSDI)
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Medicare
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Housing assistance
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Vocational rehabilitation services
2
Strategic Asset Structuring
We implement proven strategies to protect benefit eligibility, such as:
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Special Needs Trusts (First-Party and Third-Party)
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ABLE Accounts
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Pooled Trusts
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Strategic gifting approaches
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Properly structured investments
3
Income Management
We develop plans to address income considerations that could affect benefits, including:
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Structured settlement planning
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Employment income strategies
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In-kind support and maintenance planning
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Rental and investment income management
The Importance of Proactive Planning
Many families unknowingly jeopardize their loved one's benefits through well-intentioned but
improperly structured financial support. By planning proactively, you can:
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Maintain access to essential healthcare services through Medicaid
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Preserve monthly income from SSI
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Provide supplemental resources for needs not covered by government benefits
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Ensure long-term benefit eligibility even as regulations change
Our Expertise in Benefit Protection
Our team stays current with the complex and frequently changing regulations governing benefits programs. We understand the nuances of asset and income limits, spend-down requirements, look-back periods, and exemptions that affect benefit eligibility.
This expertise allows us to create robust protection strategies that withstand scrutiny while maximizing available resources for your loved one's care and comfort.
