redroc2
08-01-2007, 12:29 PM
Does anyone know how to hide some $$$ in a trust or corporation and still be able to get disability? I have about 75K in stocks and savings, but I am worried if something ever happened where I needed to go back on disability I would be SOL since I have this money....
sjean423
08-01-2007, 02:25 PM
I don't believe medical disability cares what you have in assets anyway.
SCI-Nurse
08-01-2007, 04:11 PM
Your assets would only restrict you from getting SSI or Medicaid, not SSDI, state disability, or Medicare.
You could look into a special needs trust, but there are limits on what you can use this money for that could create problems. Generally you cannot use the funds for non-disability or non-medical expenses or "frills" (like a vacation).
You would probably have to spend down. Be careful about what you do if you are thinking about Medicaid eligiblity. In my state there is a 2 year look-back. If you gave away or tried to hide funds during that time, and then apply for Medicaid it is considered Medicaid fraud, and can be prosecuted (and is, pretty actively here).
(KLD)