The time to have contemplated the effects of the settlement on your Medicaid and food stamps was before receipt of the settlement, not after. You have an obligation to timely report the receipt of the settlement funds and their disposition to both the food stamp and Medicaid office. Failure to report could result in criminal penalties. Make the report.
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Mr. Lundeen is licensed to practice law in Florida and Vermont. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Mr. Lundeen strongly advises the questioner to confer with an attorney in your state in order to ensure proper advice is received.
Medicaid's interests must be protected. If you are receiving SSI/Medicaid, your trust should have been designed with their interests in mind - if not, you may risk losing your benefits in the future (speak to the attorney that set up the trust for you). I am assuming that you have already paid any medicaid lien that may be attributable to your accident (also very important).
You need advice from an attorney who specializes in special needs trusts and will know the ramifications of your settlement and how to deal with your change in financial status. You can find one in your area on avvo.com.
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