ChSNC Practice Questions - ChSNC Chartered Special Needs Consultant Exam

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A 40-year-old disabled individual receives a $500,000 personal injury settlement. To preserve Medicaid eligibility, which type of trust must be used to hold the settlement?

A third-party special needs trust funded by parents A first-party (self-settled) special needs trust under 42 USC §1396p(d)(4)(A) A revocable living trust with the beneficiary as grantor An ABLE account with no contribution limit

Correct Answer:

A first-party (self-settled) special needs trust under 42 USC §1396p(d)(4)(A)

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