Serving the greater Sacramento community, Carolyn M. Young Fiduciary Services takes on a position of trust for those who are not able to make basic health care and financial decisions on their own. Carolyn M. Young assumes client specific roles, including as executor, trustee of trusts, conservator, and guardian.
One essential service provided is in setting up special needs trusts, which are often used in covering a range of supplemental needs not covered under Security Supplemental Income (SSI) or Medicaid. Through this vehicle, parents and other relatives, as well as outside parties, are able to contribute money to help support the disabled person, while not invalidating means-tested benefits. The SSI and Medicaid means test otherwise limits recipients’ income and allows no more than $2,000 in assets.
Another role of special needs trusts is in ensuring that the person who is disabled does not suffer financial abuse, with oversight that makes certain the funds are spent in a way that reflects the individual’s needs. Among the common uses of funds administered through the special needs trust are vision and dental costs, as well as recreational expenses.
One essential service provided is in setting up special needs trusts, which are often used in covering a range of supplemental needs not covered under Security Supplemental Income (SSI) or Medicaid. Through this vehicle, parents and other relatives, as well as outside parties, are able to contribute money to help support the disabled person, while not invalidating means-tested benefits. The SSI and Medicaid means test otherwise limits recipients’ income and allows no more than $2,000 in assets.
Another role of special needs trusts is in ensuring that the person who is disabled does not suffer financial abuse, with oversight that makes certain the funds are spent in a way that reflects the individual’s needs. Among the common uses of funds administered through the special needs trust are vision and dental costs, as well as recreational expenses.
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