Master Special Needs Pooled Trust

Berkshire County Arc
Master Special Needs Pooled Trust

In 2002, Berkshire County Arc established this Pooled Trust, to allow individuals with disabilities, to maintain resources greater than asset limit of $2,000 without losing eligibility for public benefits. It is funded with assets belonging to the individual with a disability, often from an inheritance, personal injury settlement or a retroactive Social Security payment. This type of trust is also known as a “self-settled trust,” a “Medicaid payback trust,” or a “(d)(4)(c) trust.” Medicaid is entitled to be “paid back” the amount of the actual Medicaid benefits that the beneficiary received during his or her lifetime. However, this trust is still the best mechanism for securing public benefit entitlements for an individual.

With this type of trust, upon the death of the trust beneficiary:

  1. 5% during the first two years and 20% thereafter of any remaining funds are distributed to Berkshire County Arc to be used to offset cost of administering the trust and to aid any individual disabled person.
  2. Medicaid is entitled to be “paid back” the amount of the actual Medicaid benefits that the beneficiary received during his or her lifetime.
  3. Any remaining funds (after 1 and 2) are distributed to the remainder person(s) designated by the Trust beneficiary.

The process for creating an account usually takes one-two weeks and includes the following steps:

  1. The beneficiary submits a BCArc Enrollment Questionnaire and the enrollment fee. If the trust is being established by a power of attorney or by court order, a copy of the power of attorney or the court order authorizing the funding of the trust is also required.
  2. After a review of the Enrollment Questionnaire by BCArc’s attorney, a Joinder Agreement will be drafted for signature by the beneficiary.
  3. The Joinder Agreement is returned to the beneficiary’s attorney for review and signature.
  4. The signed Joinder Agreement and check to fund the account are submitted to Berkshire County Arc.
  5. The Joinder Agreement is fully executed by the executive director of Berkshire County Arc.
  6. Berkshire County Arc submits a new account letter, Joinder Agreement and check to Berkshire Bank to establish the trust sub-account.
  7. Berkshire County Arc forwards account confirmation materials to the beneficiary’s attorney and BCArc’s attorney.
  8. Berkshire County Arc’s attorney will report the establishment of the trust to the appropriate public agency (SSA or Medicaid) on behalf of the beneficiary.

 

Additional Information

Things to Consider Prior to Enrolling

Frequently Asked Questions

Enrollment Questionnaire

Schedule of Fees

Possible Trust Expenditures


Forms

Deposit Form

Master Special Needs Pooled Trust Vacation Disbursement Request Form

Member Distribution Plan

Master Special Needs Pooled Trust Disbursement Request Form


Investment Strategy

Investment Strategy

Investment Model

 

 

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