What is a pooled trust?

A pooled trust is a type of trust specifically designed for people with disabilities in Washington. It allows individuals to manage their own funds while also receiving public benefits such as Medicaid. This trust is created and managed by a nonprofit organization and the beneficiary is the "pooled trust account beneficiary". The pooled trust consolidates the funds of many beneficiaries into one account, and it is managed by the nonprofit. This trust is beneficial to individuals with disabilities, as it allows them to manage their own money without losing their eligibility for public benefits. The trust is also beneficial to the beneficiary’s family and conservator as it provides them with greater flexibility in managing the beneficiary’s finances and investments. This trust is typically used to pay for medical, dental, and other special needs expenses or any other expenses that are not included in a person’s eligibility for public benefits. The funds of the pooled trust are limited to a certain amount and cannot exceed the amount determined by the state. Additionally, the trust must provide a detailed accounting of all funds in and out of the trust. The pooled trust is an effective tool to help individuals with disabilities in Washington manage their own funds while still receiving public benefits. It provides both the beneficiary and their family with greater flexibility in managing their finances and investments in a secure and regulated manner.

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