What is a pooled income trust?

A pooled income trust is a type of financial planning tool used by people with disabilities in California, to help manage their income in an effective way. It is designed to allow individuals with disabilities to minimize or avoid taxes and use their income to pay for current and future medical expenses. With a pooled income trust, income from benefits like Social Security, Supplemental Security Income (SSI) and other sources are deposited into the trust, which is managed by a third party trustee. People with disabilities can then use the income from their trust to pay for their medical expenses, food and shelter, and other necessary expenses, without losing or interfering with their eligibility for certain benefits. People with disabilities can also apply for pooling assistance, such as California Medicaid estate recovery, to help pay for their medical expenses. A pooled income trust can help people with disabilities remain independent and plan for their future, by providing assistance with living expenses and medical costs and providing a way to manage their income. It can also help protect people with disabilities and their families from having to pay high taxes on their benefits, and help provide financial security, now and in the future.

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What is a pooled income trust?

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