What is a pooled special needs trust?

A pooled trust is a special needs trust that is operated by a company. The company serves in the role of trustee and carries out the terms of the trust. The pooled trust operates under an already-formed trust agreement, which means you don’t have the ability to make decisions about the terms of the trust. It also may include provisions that indicate what happens to the funds remaining in the trust (if any) after your child passes away. A pooled trust can be a great tool to use if your child unexpectedly receives some funds that would affect their qualification for benefits. The funds could be contributed to a pooled trust since a trust document would not have to be prepared from scratch by an attorney. This may be an efficient and cost-effective solution.

To learn more about special needs trusts, check out this article.