Pooled Supplemental Needs Trusts (SNT)
A pooled trust is an irrevocable supplemental needs trust (SNT) that, under Federal and New York statute, allows people with disabilities and older adults seeking long-term care services to spend down excess funds in order to qualify financially or maintain eligibility for government benefits, such as Medicaid and/or Supplemental Security Income (SSI).
Pooled trusts give people with disabilities a way to access vital health benefits while utilizing the excess funds they deposit into the trust to pay for items and services not covered by those benefits.
In accordance with Federal statute, first party pooled trust accounts close upon the death of the beneficiary. Any funds that remain in the account must be retained by the trust or paid to the State(s) that provided Medicaid services on behalf of the beneficiary up to the amount of any outstanding Medicaid lien/s. The funds that remain in a third-party pooled trust are distributed according to the wishes outlined by the Donor in the Joinder Agreement.
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