Preparing for your Special Needs Child's Financial Future through a DDETF trust. WE1

The presentation will explain the Development Disabilities Endowment Trust Fund as a beneficial financial tool to be able to save excess funds without fear of losing state Medicaid coverage or SSI. With the life expectancy of people with physical, intellectual, and developmental disabilities increasing, it becomes necessary to prepare for a future when a parent or family member may no longer be available as the primary caregiver. Planning for physical and financial independence early helps as they navigate into adulthood. To help set up a child with I/DD for a life with an optimal level of independence, it is essential to preserve their access to government assistance programs such as Supplemental Security Income (SSI), which guarantees a minimum income and is available to children with disabilities, and Medicaid, which covers a broad range of health care costs. Use of a special needs trust, such as the Washington State Developmental Disabilities Endowment Trust Fund is an effective tool to maintain eligibility for benefits to enable individuals with I/DD to reach their best potential by saving for their future. The Developmental Disabilities Endowment Trust Fund is a qualified supplemental special needs trust that is available to those eligible for services through the DDA. It is a private public partnered program administered by the Department of Commerce and managed by the Arc of Washington. Trusts with the DDETF allow beneficiaries to save funds for future expenses and use without the funds counting as a resource. The DD Endowment Trust Fund’s mission as a program is to help eliminate the financial barriers that would otherwise keep disabled individuals receiving state and federal benefits at the poverty level. The DDETF program was created in response to families fighting for additional opportunities to provide for and improve the quality of life for their loved ones with disabilities. This program allows our beneficiaries the opportunity to save and use the funds in their accounts to remain connected to the community and enable them to have access to technology or experiences that would otherwise be out of reach with the asset limitations.