A frequent concern with parents of special needs children who have set up a special needs trust for that child is making sure that the child gets the most use out of the money. The limitations put on the expenditures by Social Security and other regulations can sometimes make parents or other family trustees hesitant to use the funds. Below is a list of some of the things that special needs trust funds can be spent on (making sure that the funds are not paid directly to the beneficiary of the trust.) Of course families will want to take into consideration the individuals abilities, hobbies and interests when making decisions on how to use the funds.
- Cell phone,
- Computers, iPads, training and repairs,
- Massage or acupuncture,
- Over the counter medications,
- Advocacy and legal services,
- Dental work and eye glasses not covered by Medicaid or other insurance,
- Non-food grocery items such as cleaning supplies, paper products and personal hygiene products,
- Haircuts and other grooming services,
- Hobby materials such as art supplies, and classes,
- Vacations,
- Pets and their supplies,
- Housekeeping.
The trustee will want to consider the amount of funds, the beneficiary’s life expectancy and expected changes in living situation when thinking about how best to use the funds in the special needs trust. Consulting with the beneficiary’s doctors and care providers, as well as with a financial planner is always a good idea.
Great article. I’m dealing with some of these issues as well..