As someone who is disabled or who cares for a disabled loved one, you know how important it is to take steps to ensure continued eligibility for Medicaid and other government benefits. One way in which you may be able to put any assets that you have aside is by funding a charitable trust.
Determining who to make your benefactors may not be all that challenging for you. You may want to start by considering some of the organizations that have supported you or others you know over the years.
Take time to research potential benefactors
A particular organization that supported you in your time of need may be first to come to mind. The way they operate may be different from how you remember if you received support from them a long time ago, though.
You may want to do some additional research about your target organization and others with which you’re less familiar. You may want to hone in on the reports describing how they spend their donations. You could opt to go with one that keeps their overhead low so that they can invest more on outreach.
Considering volunteering with a prospective local benefactor
If you find yourself having a hard time deciding between a few different benefactors, then you may decide to volunteer with each of them to see which one best stands out to you.
Volunteering with a mix of local and national organizations can show which one(s) most closely mirror your values. You may even decide to take a seat on the board of that organization to gain a perspective as to its inner workings and whether your assets are safe with them.
Moving forward once you identify your beneficiaries
There are many pros and cons associated with setting up any kind of trust as part of the estate planning process. You’ll want to learn more about those before moving forward in funding your trust.