Back to Financial Concerns: Step 3

1. This is incorrect. Members of middle income families definitely should make wills.

1. False

2. It is not a good idea to use a form to make a will, particularly when a family member has a disability. It is important to tailor the will to your specific needs and intentions; a form cannot do that. 2. False
3. Leaving an inheritance to a person with a disability may very well make them ineligible for government benefits. Furthermore, the inheritance would have to be spent down before the individual could reapply for benefits. 3. False
4. Any inheritance that causes the person's income to go above the eligibility limit (currently $2000) will make them ineligible for SSI benefits, regardless of how long he/she has been receiving such benefits. 4. False
5. Leaving an inheritance to a third party with the intention that he/she use it for your adult child is not a good idea. Such a "morally obligated gift" is not enforceable by law. 5. False
6. The best way to leave an inheritance and protect a person's eligibility for government programs is to use a Supplemental Trust. 6. True
7. A will should be reviewed on a regular basis, perhaps every five years, and whenever the maker's life or family circumstances change. 7. False
8. This means dying without making a will. 8. False
9. You can set up a trust when you draw up a will. 9. True
10. A will is one place to name a successor guardian.
 10. True