Q: I am about to receive a financial settlement from a lawsuit.  Due to the injury, I am now not able to work.  I have heard about annuities and special needs trusts.  I also recently started to receive government benefits which are SSI and Medicaid. Which one is the best for me to use to deposit my lawsuit settlement and to be able to access the money?

Structured Settlement Annuity & Special Needs Trusts

A: Annuities and special needs trusts both have their benefits.  An annuity will provide you with a monthly income.  Each month the amount is set and usually cannot be changed.  A special needs trust is established for someone living with a disability.  The trust money is used to pay for items or services not covered under these government benefits.  The amount used can vary depending on what you need.  Your trustee will work with you to help you live a good quality of life.  Whichever option you choose, be sure to talk with a professional to see what service best suits your present needs and anticipated future needs. 

Darlene A. Kemp, MPH, MBA-HCM, Executive Director – Vista Points Special Needs Trusts  www.vistapoints.org  888-422-4076

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