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what should I do with money settlement for disabled daughter
Denver, CO
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Posted 6 months ago in Car / Auto Accident
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My daughter was in a car accident and is now paralyzed, she will receive the basic Auto amount for personal injury by CO law. The kid that hit her does not have anything that the lawyers can go after. It is not much. She is currently receiving SSD and state assistance for her two children. I trained and work as her personal CNA since she needs 24/7 care. I want to put this money aside for her future but don't know what I need, a trust for special needs child or just a regular trust? Will a trust earn interest? Will she be taxed on it? We don't have much and can't afford for her to lose her SSD or her Medicaid, and the assistance with her housing. I can't afford a lot for lawyers fees either. My daughter is 24 and she has two children which I also care for. Please advise. Thank you.
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this is for Lawyers that deal with TRUSTS Answers (2)
Guy Scott DiMartino
This attorney is licensed in Florida and 2 other states.
Posted 6 months ago.
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This information is for educational purposes only as I do not practice in Colorado State courts. This is an area that should be discussed with your daughter's lawyer. She is on SSD & also receiving Medicaid. Depending on the amount of the settlement, a special needs trust is typically the way this is handled. One of the benefits of a special needs trust is that it will not cause a person on medicaid to lose eligibility.
Alan James Brinkmeier
This attorney is licensed in Illinois.
Posted 6 months ago.
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Your situation is too involved for an online answer.
Using the written documentation you have is a good place to begin. Contact a local lawyer - many may give you a free consultation for an hour - to discuss your specifics. Far too many variables exist in the short post you wrote for any further observation by me. Many Denver attorneys have information posted here on Avvo. I agree with Mr. DiMartino. You might find my Legal Guide helpful "How to Choose A Lawyer For You" http://www.avvo.com/legal-guides/ugc/how-to-choose-a-lawyer-for-you You might find my Legal Guide helpful " What Do I Tell My Lawyer" http://www.avvo.com/legal-guides/ugc/what-do-i-tell-my-lawyer No one can know what the record is in the case because online we cannot see your documents. You need a lawyer. Check with a lawyer in your locale to discuss more of the details. Good luck to you. NOTE: This answer is made available by the non-CO lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed CO professional attorney with whom you have established an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.
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