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Posts Tagged ‘pooled trust’

I’ve heard about Special Needs Trusts but what is a Pooled Trust?

A pooled trust is created by the person with special needs, a parent, grandparent, guardian, or a court. However, the trust is administered by a non-profit organization. The trust is funded by the disabled beneficiary’s assets. Each beneficiary has a separate account established, but for the purposes of investment and management of funds, the trust “pools” all these various accounts into one.  However, upon the death of the disabled beneficiary, if there are funds remaining in the account, the trust pays to the State of Maryland, an amount up to the total amount of Medical Assistance provided to the beneficiary.  The…

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You may want to learn more about a littleknown option called a “pooled trust,”

Joining a pooled trust may be an option for some people in certain states to receive home care
through Medicaid, without having to impoverish themselves in order to qualify.

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