Why should I consider a Third-Party Pooled Special Needs Trust?

Family members or others can set up a Third-Party Pooled Special Needs Trust that will provide financial support for a loved one with special needs.

In the case of an individual who receives public benefits such as Supplemental Security Income (SSI) and/or Medicaid, an inheritance left directly to the Beneficiary will jeopardize eligibility because of the $2,000 asset limit.  (See What is the connection between public benefits and personal resources (assets and income)?)  The same funds, if directed to a Third-Party Pooled Special Needs Trust for the benefit of the Beneficiary, will not be counted as an asset or income for the purpose of maintaining SSI and Medicaid eligibility.

In addition, the Grantor may have concerns about the Beneficiary’s ability to manage his or her own funds.  The Third-Party Pooled Special Needs Trust eases this anxiety by providing fiscal oversight to ensure that funds left for the Beneficiary meet their intended goals.