POOLED SPECIAL NEEDS TRUST
ENRICHING THE LIVES OF INDIVIDUALS WITH SPECIAL NEEDS NATIONWIDE
The Legacy Enhancement pooled special needs trust was created to manage funds for supplemental needs and assist in enriching the quality of life of our clients. Designed for individuals who have a disability or special needs and who have received money from a divorce, legal settlement, or inheritance, the pooled special needs trust can provide you and your loved ones with lasting security and ongoing support.
At Legacy Enhancement, our goal is to ease the burden of financial management and help our clients retain the governmental assistance they need.
What is a Pooled Special Needs Trust?
Pooled special needs trusts, unlike other types of trusts, are managed by non-profit organizations, rather than a single trustee. With pooled trusts, each beneficiary has a separate established account. These accounts are pooled together for the purpose of trust management and investment. In self-settled trusts, otherwise known as (d)(4)(C) pooled trusts, the individuals with the disability/special needs, parent, guardian, grandparent, or a court establishes each subaccount. In such cases, the assets of the disabled or special needs person fund the trust.
There are many advantages to utilizing a pooled special needs trust, whether you are funding it with hundreds of thousands of dollars or a more limited amount.
By choosing to work with Legacy Enhancement, you gain access to an experienced team that is:
- Knowledgeable about various income and asset-related agency rules
- Capable of working with Medicaid and SSI on your behalf
- Attentive to the unique needs of disabled individuals and their caregivers
- Dedicated to easing the financial responsibility for beneficiaries and their loved ones
Advantages of a Pooled Special Needs Trust
A pooled special needs trust offers distinct advantages for individuals with disabilities. Pooling resources from multiple beneficiaries, it provides professional management and investment expertise, ensuring optimal growth of assets. With lower fees compared to individual trusts, it maximizes funds available for the beneficiary's needs. Administrative tasks, such as record-keeping and tax filings, are efficiently handled by the trust, relieving families of these responsibilities.
Additionally, the pooled structure fosters a sense of community, allowing beneficiaries to share experiences. Overall, a pooled special needs trust offers financial security, cost-effectiveness, and a supportive network for individuals with special needs.
Legacy Enhancement Is Here to Help
At Legacy Enhancement, we are proud to offer the same expert level of pooled special needs trust administration normally found at much larger banks and trust companies. Our lower costs for establishing and maintaining trusts make us an attractive option for beneficiaries and their caretakers.
Professionally managed and invested trustsOur staff is complete with knowledgeable professionals to make sure your investment is handled wisely.
Capable of handling trusts of all sizes
Your family member or client will be cared for, no matter the size of the trust.
Ability to help maintain needs-based governmental assistanceWe've got the experience you need to rest easy. We know what it takes, we'll take care of the rest.
Low trust establishment costs and maintenance feesSince we are a non-profit, our only benefit is our clients success, meaning we are cost effective and won't break your bank.