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Protect Assets from the Government Using Pooled Trusts if You're on Medicaid

Written by: David Paul Fitch

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Posted over 3 years ago. 2 helpful votes, 0 comments

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Locate a Non-Profit Provider of a Pooled Special Needs Trust

The Federal Law requires that a pooled special needs trust be established and administered by a 501(C) (3) non-profit organization. The largest one in the country is the National Pooled Trust. The NPT has established pooled special needs trusts in all 50 states.

Go Online to Download Required Trust Documents

Google pooled trusts with your state abbreviation. For example: pooled trust MN or pooled trust FL. Check a couple listings out and make your choice.

Download Documents

Each pooled trust administrator has its own pre-drafted forms or at least should have them. If you find one that does not have down loadable forms, my suggestion is to look at another provider. The forms are basically fill-in-the-blank and do not necessarily require the use of an attorney. The more well established administrators will have have staff available by phone to answer the basic questions regarding what type of information is needed and what it is used for in the administration process.

Complete the Forms and Submit them to the Administrator

Complete the forms as directed and submit them with the deposit and any additional required fees. The administrator will review and approve the documents and return a copy of sign documents for your use with the local state agency that administers the Medicaid program. That is all there is to a simple method to protect the use of assets for the improvement of the quality of life of the Medicaid recipient.