Reporting the Establishment of a Special Needs Trust
We are often asked when changes in financial circumstances must be reported. A change is defined as the establishment of a Trust when we are referring to a person receiving some sort of public benefit.
The answer depends on the program(s) the beneficiary is receiving and thus the agency to which to report. The only common thread is that YOU MUST REPORT.
For beneficiaries on Supplemental
Security Income (SSI) the answer is found in POM SI 2301.005. For SSI
recipients a report
is due within 10 calendar days after the month in which the change occurred.
A report by mail is timely when the postmark date is within the same 10-day
period. Recipients and payees may report in writing, by telephone, or in
person. They may use Form SSA-8150-EV (Reporting Events, SSI) to report in
writing. The Change is reported to your local Social Security office.
For
the Medicaid programs administered
through the Department of Children and Families in Florida, the time to report
is within 10 days of the change in circumstances. This time period, as well as
the time periods for other programs (such as "only on re-certification" for the food assistance program), are explained on the
Rights and Responsibilities form CF-ES 2064.
The
form for reporting changes for most Florida Medicaid programs is CF-ES 3052A.
The
form says to return to your local office by mail or fax, which can be found
here.
Remember,
we don't get to decide whether a Special Needs Trust is excluded as an asset.
Such a decision is up to the governmental agency. The Trust must be
disclosed. As always, feel free to reach out to us with your questions.
Travis D. Finchum
Board Certified Elder Law Attorney
Co-Trustee, Guardian Trusts
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