A pooled trust is a special type of irrevocable supplemental needs trust where a not-for-profit trustee agrees to manage assets for the benefit of a person with a disability. This allows individuals to protect money to gain and maintain financial eligibility for means-tested government benefits, including Medicaid and Supplemental Security Income (SSI).

Funds deposited into the trust help pay for items and services that are for the primary benefit of the trust beneficiary, such as monthly living expenses and life-enhancing purchases that a person’s benefits typically do not provide.

The primary reason to establish a pooled trust is to protect funds so that a person can qualify and/or maintain financial eligibility for means-tested government benefits. 

Pooled trusts allow people to reduce their countable income to qualify for Medicaid community services and home care so that they can live independently at home for as long as possible. Pooled trusts are also used to protect windfalls of money that would put a person over the limits to receive Medicaid or SSI benefits. This allows the individual to use the funds throughout their lifetime rather than having to spend them quickly to avoid an interruption or reduction in services. 

You will also receive the benefits of working with a team of representatives who will assist you in using the funds in the trust account. GCT of BDI reviews each request individually to consider its impact on government benefits and to spend funds wisely on life-enhancing purchases that are for your primary benefit. 

By depositing your excess funds into a pooled trust, you can qualify and maintain financial eligibility for benefits and use the money in your trust account to pay for items and services that your benefits do not provide, such as monthly living expenses, uncovered medical costs, adaptive equipment, recreation, transportation, education, and other life-enhancing purchases. 

You can deposit funds into the trust by electronic deposits from your bank account or by mailing a check. 

When you wish to use the funds in your account, complete a disbursement request form and attach the appropriate documentation for the item or service you would like the trust to pay for. Certain fixed, recurring monthly expenses can be paid automatically on a scheduled day.  

A pooled trust is easy and inexpensive to establish because approved trust documents are already in place. To get started, complete the Joinder Agreement (trust application) for the trust you would like to establish from Trust Documents. 

For further instructions on where to send your application and initial deposit, visit Steps to Open a Pooled Special Needs Trust Account. 

We are here to help guide you through the enrollment process. Please call 678-365-0071 for assistance.