What is a pooled trust?

A pooled trust is a type of trust that allows disabled individuals to manage their money while still maintaining eligibility for government benefits such as Medicaid and Supplemental Security Income (SSI). Pooled trusts are managed by nonprofit organizations and typically contain multiple individuals’ funds. The pooled trust allows individuals to set aside additional money for their disability-related needs, such as medical expenses or housing costs, without the fear that this money will disqualify them from receiving benefits. The pooled trust also serves as a “safe” place to store funds given by family or friends to help the individual manage their disability costs. The pooled trust is managed by the nonprofit organization and funds are invested on behalf of all beneficiaries. In Rhode Island, the government funds of individuals with disabilities are managed by the Rhode Island Public Pooled Trust. This trust is administered in accordance with the Medicaid and SSI regulations and managed by an appointed trustee. The trust serves to protect the individual’s benefits, while allowing them to access the funds they need for their disability-related expenses. The pooled trust can also serve as a way for individuals to save money for their future.

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