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Pooled Trust - Excess Resources

Community Trust I: Resource (Asset) Protection Trust

The purpose of a pooled trust is to protect a person's eligibility for government benefits and improve the lives of people with disabilities. The funds in a pooled trust are intended to pay for life-enhancing items and services to supplement, not replace, the benefits a person is already receiving through Supplemental Security Income (SSI), Medicaid and/or other means-tested government benefits. 

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 sources

Pooled Trust Benefits for Asset Protection

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

  • Low costs and easy setup make it an affordable alternative to an individual trust
  • Avoid having to spend down funds quickly
  • 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 for their benefit
  • Good option if there isn't an appropriate person to serve as Trustee of an individual SNT

How to Enroll in a Pooled Trust?

To establish a pooled trust you must provide proof of a disability and complete the Joinder Agreement (trust application). You can fund the trust with excess resources or open the account with as little as $300. Here are instructions on how to enroll!

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

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