What is a pooled trust?

A pooled trust is a type of special needs trust used to help disabled individuals manage their finances. It is a type of trust that pools the assets of many individuals together to allow the beneficiaries to receive supplemental funds for their care without losing their eligibility for government benefits. In Rhode Island, pooled trusts are established by either a non-profit organization or an individual with the help of a lawyer. The pooled trust is managed by a trustee and provides services like budgeting and investment management for each beneficiary. Every beneficiary in the trust will receive disbursements from the pooled funds, and the trustee will also ensure that all government requirements are met. The pooled trust also allows individuals to set up their own special needs trust, such as education trusts, while still having access to the pooled funds. Pooled trusts are beneficial because they allow individuals with disabilities to maintain their eligibility for government benefits, while also providing them with the financial resources they need to cover additional care expenses.

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