While the importance of setting up at trust to take care of the future
needs of a loved one, sometimes the work and fees that are associated
with it make it prohibitive for some families. In these instances, however,
there is still another option: Pooled Trusts.
A pooled trust makes sound financial sense for those families for whom
setting up an individual supplemental needs trust not be an option. While
a pooled trust still enables you to put money aside for a person with
disabilities, traumatic brain injury or autism without worrying about
maximum income and asset requirements, the money is then pooled together
with other clients’ money for management purposes, so the minimums
to open the trusts and associated fees are typically lower.
There are a variety of pooled trust options available:
• Self Settled Trust: Protects the proceeds received from personal
injury awards, inheritances or Social Security settlements, making funds
available for life-enriching experiences like vacations and recreational
activities or, medical expenses not covered by Medicaid or other insurance.
• Third Party Trust: Funded by family members, guardians and others,
this trust puts aside assets for a loved one with a disability—without
jeopardizing Medicaid or SSI benefits.
• Surplus Income Trust: Allows a person with excess income to deposit
their monthly amount over the allowable income limit into the trust so
that it can be used for monthly living expenses, instead of paying it
At Life’s WORC, we utilize our 40-plus years of experience working
with and supporting individuals with special needs and their families
in all areas of their lives as the basis for Life’s WORC Trust Services.
Choosing to partner with Life’s WORC for your trust needs has many
• All trust funds are professionally managed. We work in partnership
with the seasoned team of investment managers at a reputable financial
institution, which has extensive experience in the areas of individual
and pooled trusts.
• We’re here when you need us. Unlike a family member who may
be overwhelmed by administration of the trust, our trustees are knowledgeable
about regulatory guidelines and are always available to address your concerns.
• We handle money responsibly. A 501(c)3 organization, we keep bureaucracy—and
overhead—to a minimum by keeping our total administrative costs
Life’s WORC Trust Services offers a full suite of individual and
pooled trusts, including those mentioned above as well as Individual Supplemental
Needs Trusts and trust administration services. For more information or
to contact us, please visit our website at www.LifesWorcTrust.org
Paulette Elbers Trust Administrator Life’s WORC 1501 Franklin Avenue
Garden City, NY 11530 Phone: (516) 741-9000, ext. 3600 Fax: (516) 302-1802
Email: firstname.lastname@example.org Life’s WORC I Trust Services Phone:
(516) 348-7878 Email: email@example.com