|Are you enjoying the cooler weather?
This is the time of year that we enjoy bike rides and taking walks at Lake Ray Roberts. The trail at Ray Roberts reminds me of hiking in Arkansas (yes, I have a good imagination). The fall is a wonderful time of year. It is easier to exercise when it is not so hot outside. Hopefully, the cooler weather will stay around. I could definitely get used to it.
I have exercised more in the last week than I have over the last 15 years, because we just changed our health insurance to one that included a membership to a local gym. I was naïve enough to think I could just start exercising at the same level as 15 years ago. I am realizing that my body is older than the last time I exercised.
Click here to find out more about my new exercise plan.
Does a Supplemental Needs Trust Need a Payback Provision?
The quick answer is that it depends on the source of funds used to create the trust.
Before we get too much further in, let me give you the definition of a Supplemental Needs Trust or a Special Needs Trust. A Supplemental Needs Trust is a trust that is designed to protect assets for an individual with a disability. These trusts protect the eligibility for government benefits that are asset and income based. These trusts supplement what is available under the government benefits without jeopardizing these benefits.
It is important to realize when to use a payback provision in a Supplemental Needs Trust and when it is unnecessary. A payback provision is required when the supplemental needs trust is funded from the assets of the individual with a disability.
Click here to find out more about Supplemental Needs Trusts.
Thank you for the referrals!