The Theresa Pooled Trust

The Trustee
The Center for Special Needs Trust Administration, Inc. is
a non-profit corporation that provides specialized trustee
services for special needs trusts. The Center’s unique
combination of services gives trust beneficiaries and their
families peace of mind. Public benefits will be better
protected and quality of life will be enhanced by using trust
assets to meet special needs that are not provided for by
The Theresa Pooled Trust
basic public assistance programs.
The Center for Special Needs Trust Administration,
Inc. (The Center) is the trustee that administers The
Theresa Foundation Pooled Trust of New York
At the beneficiary’s death, any remaining assets in
the pooled trust must either be retained in the Trust
or used to reimburse the state of New York for all
medical benefits provided by the beneficiary. As part
of The Center’s charitable mission and purpose to
provide comprehensive services to the entire
community of people with disabilities, The Center
has named The Theresa Alessandra Russo
Foundation as the primary beneficiary of The
Theresa Foundation Pooled Trust of New York.
The Theresa Foundation honors the memory of
Theresa Alessandra Russo by touching the lives of
children with special needs and their families
through direct support and programs that focus on
art, music, dance and recreation.
The Theresa Foundation
250 Lido Boulevard │ Lido Beach, NY 11561
(516) 432-0200 │
For additional information on how The Theresa Foundation
Pooled Trust of New York might help you or a client,
please contact The Center for Special Needs Trust
Administration, Inc. at (877) 766-5331 or via email at
[email protected]
4912 Creekside Drive, Clearwater, FL 33760
ph: (877) 766-5331 │ fax: (877) 619-4023
[email protected] │
The Center for Special Needs Trust Administration, Inc. is a 501(c)3 nonprofit corporation and is part of “The Centers.” The Centers includes The
Center for Special Needs Trust Administration, The Center for Lien
Resolution, The Center for Medicare Set-Aside Administration, and The
Center for Settlement Consultants.
Key Private Bank is The Center’s Co-Trustee.
What is a Pooled Trust?
What are the Basic Requirements for
Joining the Trust?
A Pooled Trust is a special type of trust that
1. The beneficiary must be disabled as
defined by law. For purposes of the Trust,
eligible for public assistance benefits while
supplemental needs. While not necessary for
everyone, the end result of joining a Pooled
Trust is that trust beneficiaries can receive the
In addition to the primary benefit of protecting
their public benefits, Pooled Trust beneficiaries
public benefits that meet their essential needs
receive the added value derived from pooling funds
while maintaining a supplemental fund that is
for investment and management purposes. By virtue
available to meet their special or supplemental
of the Pooled Trust’s size, it can command better
needs that are not provided by public benefits.
interest rates and other financial benefits from the
Why Join The Theresa Pooled Trust?
Under current Federal Law, any assets in an
recipients of public benefits when those
benefits have asset and income limits. Any
portion of the trust funds that can be reached
will be counted as an asset, and any portion of
the interest that could be paid out will be
counted as income. As a result, recipients of
public benefits will be disqualified and their
benefits discontinued. In the case of someone
who is applying for benefits, the application
The Pooled Trust can also offer commercial trustee
and money management services to beneficiaries
with even small to moderate amounts of money.
only a modest percent of the fund. This means that
specialized trustee services are now possible for
individuals of limited to average means.
The following list provides examples of individuals
who can benefit from joining The Theresa Pooled
Younger persons with special needs
exception that is commonly referred to as a
Recipients of personal injury settlements who
Pooled Trust. The recipient or applicant who
need to apply for, or protect, government
places assets in a Pooled Trust will not be
this benefit of favorable asset treatment is
trust account must belong to the individual
3. The Trust account may only be established
by a parent, a grandparent, a legal
guardian, the individual beneficiary, or by
a Court.
4. Each Trust account must be established
solely for the benefit of the individual
For What Items Can the Trust Funds be
Who Can Benefit?
In contrast, Federal Law creates a specific
assets be counted as income. In New York,
2. The assets going into the beneficiary’s
There is no minimum charge and the annual fee is
for public benefits will be denied.
available resource, nor will interest on the
market than would otherwise be available.
subject to the rules that normally apply to
trusts. Trust assets will not be counted as an
“disabled” typically includes age-related
What are the Added Benefits of a Pooled
Living expenses, including clothing, food
and shelter for non-SSI beneficiaries
Housing costs such as utilities, rent, or
real estate taxes
Private pay care services
Supplemental nursing care
Medical procedures not provided through
government assistance
Entertainment and travel expenses
are living at home
Attorney and Guardian fees
Recipients of government benefit programs
Any other expenses not provided by
Applicants for government benefit programs
Elderly persons who have become infirm and
government assistance programs
available by joining The Theresa Pooled Trust.
ph: (877) 766-5331
4912 Creekside Dr., Clearwater, FL 33760