Special Needs Pooled Trust Services
A Special Needs Trust can help people with disabilities maintain important public benefits while preserving funds that can improve their quality of life.
The Master Pooled Asset Special Needs Trust is designed for people with disabilities or individuals receiving public benefits who have assets that could otherwise affect their eligibility for programs such as Medicaid, Supplemental Security Income (SSI), and other needs-based assistance.
What Is a Pooled Special Needs Trust?
A pooled trust allows many individuals to participate in a single trust program while maintaining separate accounts for each beneficiary.
Assets from all participants are combined for investment and administrative purposes, helping reduce costs and improve efficiency. However, each beneficiary’s funds are tracked and managed individually to ensure they are used solely for that person’s benefit.
Who Can Benefit?
The trust may be appropriate for:
- Individuals with disabilities who receive public benefits
- Individuals who have received an inheritance, legal settlement, or other financial resources that could affect benefit eligibility
- Families who want to provide financial support for a loved one with special needs
- Individuals seeking professional trust management and oversight
Trust Options
There are two types of Special Needs Trusts:
First-Party (Self-Settled) Trusts
- Funded with assets belonging to the beneficiary, such as an inheritance, lawsuit settlement, or accumulated savings.
Third-Party Trusts
- Funded by family members or other individuals who wish to provide financial support for a loved one with special needs.
How Funds Are Managed
Professional trust administrators oversee each beneficiary’s account and review requests for distributions. Funds can be used for approved expenses that enhance the beneficiary’s quality of life while helping preserve eligibility for public benefits.
Examples may include:
- Medical and dental expenses not covered by insurance
- Education and training
- Transportation
- Personal care items
- Recreation and enrichment activities
- Technology and adaptive equipment
- Other approved supplemental needs
Service and Administration
To keep administration affordable, there is a flat monthly fee structure for routine trust management. This fee covers standard account administration and a limited number of monthly service requests.
Additional services, higher transaction volumes, or specialized person-centered services may incur additional fees according to the trust’s fee schedule.
To ensure accurate recordkeeping and compliance with trust requirements:
- Requests for distributions must be submitted in writing using the appropriate request form.
- Administrative fees are paid directly from the trust account.
- The minimum opening balance for participation is $25,000.
Protecting Benefits and Providing Peace of Mind
The goal of a Special Needs Trust is to help beneficiaries maintain access to essential public benefits while providing additional resources that enhance independence, comfort, and quality of life.
Through professional administration and careful oversight, the Master Pooled Asset Special Needs Trust helps individuals and families preserve financial resources while supporting long-term stability and well-being.
