Do you want to leave money for your child with a disability
but fear jeopardizing his eligibility for certain benefits? Pooled trusts are trusts allowed under
Medicaid and Social Security Income (SSI) law for beneficiaries with special
needs. A pooled trust is managed by a
nonprofit organization, which serves as trustee. A beneficiary’s funds are “pooled” with the
funds of other beneficiaries for investment purposes, but each beneficiary
maintains their own account.
A beneficiary’s pooled trust funds can, by Ohio law, only be used for supplemental services.
Generally, supplemental services are those items or services that
government benefits such as Medicaid do not provide, such as vacations, participation
in a hobby, cable tv, certain eye or dental care, magazine subscriptions,
extracurricular activities, membership in a club, among other things.
Why would you choose a pooled trust? Some parents prefer knowing that a nonprofit
organization experienced in pooled trust management is managing their child’s
funds. Other reasons include:
where there is no family or trusted advisor to serve as trustee;
to be provided the child are modest—when “pooled,” the beneficiary
receives benefits of investment of funds from several participants;
costs are relatively low.
Pooled trust nonprofit organizations in Ohio are Community Fund Management Foundation, The Disability Foundation Pooled
Trusts, Ohio Pooled Trust, McGivney Pooled Special Needs Trust, and Secured
Futures Pooled Trust. If you would like
a list of pooled trust organizations in a state other than Ohio, please contact