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Pooled Trusts
Pooled Trusts allow individuals to protect eligibility for public financial
assistance, such as Medicaid home care and SSI, while preserving their
income and/or resources in trusts that can be used to pay for
supplemental needs not covered by public assistance. In addition,
since funds in these types of trusts are pooled for investment and
management purposes, beneficiaries in Pooled Trusts can receive
higher interest rates and other financial advantages.
Funds in Pooled Trusts can be used for all of the following and more:
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Living expenses such as food, shelter & clothing for non-SSI beneficiaries
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Housing costs like rent, real estate taxes and utilities
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Supplemental nursing care
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Private pay care services
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Medical procedures and care not provided by government assistance
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Travel expenses and entertainment
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Guardian and attorney fees