Pooled Trust

A Pooled Trust is primarily used when the individual is over the age of 65 and is receiving an inheritance or personal injury settlement, and is on either Medicaid or SSI. SSI is Supplemental Security Income, which is different than SSDI or Social Security Disability Income. The client rarely knows the difference and refer to both of these programs as Disability.

A Pooled Trust can also be used as a Medicaid Planning Strategy when the individual has too many assets to qualify for Medicaid. It is a common tool that we use regularly. The tricky part is funding the Pooled Trust with the correct amount of monies. Meaning, the family may not have an inheritance if too much is placed into the Pooled Trust.