The NonProfit Pooled Trust is a special type of trust that allows someone to become financially eligible for public assistance benefits while preserving their resources in trust for supplemental needs. The benefits of joining a pooled trust is that beneficiaries can receive the public benefits that meet their basic needs while maintaining a supplemental fund that is available to meet their special or supplemental needs which are not provided by public benefits.read more
Who can benefit from the NonProfit Pooled Trust?
- Elderly persons who have become infirm
- Nursing home residents or son-to-be nursing home residents
- Recipients of government benefit programs
- Applicants for government benefit programs
- Recipients of personal injury settlements who need to apply for, or protect, government benefits
What are the basic requirements for joining the Trust?
- The beneficiary must be disabled as defined by law. For purposes of the Trust, "disabled" typically includes age-related infirmities.
- The assets going into the beneficiary's Trust account must belong to the individual beneficiary.
- The Trust account may only be established by a parent, a grandparent, a legal guardian, the individual beneficiary, or by a Court.
- Each Trust account must be established solely for the benefit of the individual beneficiary.
How can funds be used?
- Geriatric Care Services
- Guardian Fees
- Attorneys Fees
- Supplemental Nursing Care
- Medical procedures not provided through government assistance
- Differentials in housing costs between shared and private rooms in institutional settings
- Travel Expenses
- Any other expense not provided by government assistance programs