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Community Trust I is a pooled supplemental needs trust (SNT) for people with disabilities who have excess resources in their name or who receive a sum of money that puts them over the financial limits to be eligible for means-tested government benefits, including Medicaid and/or Supplemental Security Income (SSI).
If you need to protect resources (assets) that could put your 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 your eligibility for services.
The need for a first party pooled trust typically arises when a person with a disability comes into a windfall of money or is entitled to receive money that will put them over the financial limits for Medicaid and/or SSI, whether that person receives benefits now or may need benefits later in life. The most common sources of funding include:
By depositing your excess 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.
Does your settlement include a Medicare Set-Aside account (MSA)? We can help with that, too! Learn more >>
A pooled trust is a great low cost solution for any sum of money to maximize the value you can receive from the funds while protecting your benefit eligibility. You may consider using a NYSARC pooled trust to protect excess resources (assets) when:
Would you like more information? Contact us, we are happy to help!
NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need.
Yours is the golden standard by which all agencies should be measured.
The quality of service offered by NYSARC Trust Services is unparalleled.