What is a pooled trust?

A pooled trust is a type of trust that is typically created and managed by a non-profit organization for the benefit of elderly individuals. It is most commonly used to help elderly individuals who need assistance with their finances, but who do not have a suitable or willing family member or guardian to oversee their affairs. In a pooled trust, multiple beneficiary accounts are pooled together and managed by the non-profit organization on behalf of all beneficiaries in accordance with the Delaware Trust Code. Beneficiaries’ assets are pooled together, and the organization uses its expertise to manage and invest them for the benefit of all beneficiaries. In exchange for managing the trust, the non-profit organization takes a fee from the proceeds of the trust. Pooled trusts provide many benefits for Delaware seniors, such as allowing them to maintain control over their finances and basic needs while protecting their assets from creditors. Funds in the trust may also be used to pay for certain medical expenses which Medicare does not cover, such as home health care, and to provide necessary items or services for the elderly person’s benefit.

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What is a pooled trust?

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