Pooled Trust for Asset Protection

Community Trust I: Funded with Excess Resources

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.

A pooled trust can help a person protect funds such as:

• a direct inheritance
• settlement proceeds, lump sum or structured payments
• retroactive benefit payments
• resources accrued from Disabled Adult Child (DAC) Benefits
• other monetary gifts

How it Works?

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.

Review Community Trust I Documents and Apply

Watch this video for more information and contact us with questions at (518) 439-8323.

 

What are the benefits of a pooled trust?

• Usually more affordable to set up and maintain than a standalone special needs trust
• Professionally trained non-profit manages the funds, so you don’t need to find a trustee
• Trust is managed by experts who understand the rules of Medicaid and SSI
• Low minimum funding requirements (open with as little as $300)
• People over age 65 can participate*
• Establish quickly because documents are approved by Medicaid/SSA
• Personalized service from dedicated team
• A financial institution is appointed as co-trustee to manage trust investments
• Funds pooled for investment and management purposes

*Additions to a pooled trust after the age of 65 may result in a transfer penalty for recipients of SSI benefits and/or Medicaid long-term care services.

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

Does your settlement include a Medicare Set-Aside account (MSA)? We can help with that, too! Learn more >>