WHAT DOES PACT OFFER?
Basic Support and Maintenance Trust:
Can be set up for any beneficiary, not just individuals affected by disability.
First Party Special Needs Trust:
Grantor of the Trust is a person affected by disability. Funds to establish the Trust often come from a court settlement, the Grantor’s savings account or other assets.
Third Party Special Needs Trust:
Grantor(s) of the Trust are parents or family members of a person affected by disability.
Funds put in to a Pooled Trust are stored safely, along with money from other grantors. Assets are managed for more stable administration and investment options, and distributions are made for the beneficiary’s supplemental needs as requested.
In the case of Pooled Special Needs Trusts (SNTs), the beneficiary is able to maintain eligibility for public benefits.
*Please note that if a beneficiary takes disbursements from his or her SNT to cover shelter or food-related expenses, his or her SSI benefit amount will be reduced by 1/3, which could affect the beneficiary’s qualification for Medicaid.
For more details on Pooled Trusts, including eligibility, please see the Frequently Asked Questions (FAQs).