Pooled Trust for Asset Protection

Community Trust I: Funded with Excess Resources (Assets)

Community Trust I is a pooled supplemental needs trust for people with disabilities who receive government benefits, such as SSI and/or Medicaid, and need to protect an unexpected sum of money.

For people who need to protect resources (assets) that could put their benefits at risk, a pooled trust is a great option to avoid having to spend down funds quickly or on unnecessary things in order to maintain a person's eligibility for services.

A person can fund a trust with resources, such as:

• a direct inheritance
• lawsuit award
• structured settlement or lump sum payment
• retroactive benefit payments
• other monetary sources

How it Works?

By depositing those funds into a pooled trust, you can maintain benefit eligibility and use the money in your trust account to pay for items and services that your benefits do not provide, such as adaptive equipment, recreation, transportation, education, and other life enhancing purchases.

Upon the beneficiary's death, the remaining balance in the account is retained by the trust to support other people with disabilities served by The Arc New York.

Click here for Community Trust I Documents

Pooled Trust Benefits for Asset Protection

Here are some of the many benefits to choosing a pooled trust to protect excess resources (assets):

• Maintain benefit eligibility and avoid having to spend-down funds quickly
• Low cost and easy setup make a pooled trust an affordable alternative to an individual SNT
• Pooling funds offers greater investment power
• Professional administration helps ensure a responsible use of funds and compliance with legal requirements
• When the beneficiary has complex medical needs, having a Trustee who understands government benefits and the individual's unique needs can help maximize the funds in the trust to improve their quality of life
• Good option if there isn't an appropriate person to serve as Trustee of an individual SNT

Would you like more information? Contact us, we are happy to help!