What is a pooled trust?

A pooled trust is a special type of disability planning law in Oklahoma that provides financial protection for individuals with disabilities. It is a type of trust account in which funds from multiple beneficiaries are pooled together and managed by a non-profit organization. Funds can be used for essentials such as food, housing, medical care, transportation, and other basic needs. Pooled trusts are a great way to provide financial security for people with disabilities and their families while also ensuring Medicaid eligibility. Under disability planning law in Oklahoma, individuals can deposit funds into a pooled trust in order to protect their assets while still qualifying for Medicaid and other public benefits. The money is managed by the non-profit organization and used to pay for the beneficiary’s needs. The trust will also ensure that any remaining funds are distributed to the beneficiary’s heirs upon their death. Pooled trusts provide a great degree of financial flexibility and security for individuals with disabilities and their families. With a pooled trust, families can have peace of mind knowing that their loved one’s financial needs are taken care of, even after they are gone.

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