What is a Pooled Special Needs Trust?
A pooled special needs trust allows an individual access to financial resources to enhance their life while safeguarding public benefits that provide access to vital services. Administered by a non-profit, a pooled trust combines the assets of many individuals for investment purposes while maintaining individual accounts for beneficiary.
Individuals of all ages and with any type of disability, as defined by the Social Security Administration, can participate in a pooled special needs trust. The Arc Master trust serves people of all disabilities, people with mental illness, and people 65+.
It is impossible to draft an all-inclusive list of what goods and services can and cannot be purchased with a special needs trust. Following are items that are routinely covered.
Furniture * Personal Care Items * Clothing * Mattress/Box Springs * Vehicles * Television/Stereo, etc. * Eyeglasses/Contacts * Toys * Vacations * Hobby Supplies * Gasoline * Essential Dietary Needs * Computers/Software * Pets/Pet Supplies * Games * Washer/Dryer * Guitar, Musical Instrument, etc. * Household Products and Supplies * Kitchen Appliances/Tools * School Tuition * Household Appliances * Outdoor Grill * Prepaid Funeral Expenses
Cell Phone Services * Internet * Cable TV * Hair Care * Transportation * Auto and Renter’s Insurance * Eye and Dental Care * Entertainment Expenses * Tuition to Camps, Classes, etc. * Athletic or Recreational Fees * Auto Repair/Maintenance * Attendant Care * Rehabilitation * Pet Grooming/Veterinarian Bills * Tickets to Concerts, Movies, Sporting Events, etc * Music Lessons * Maid Services * Home Modifications/Improvements * Field Trips/Day Trips, etc. * Therapeutic Massage * Vehicle modifications to make accessible * HVAC Services * Attorney/Accountant/Financial Planning * Seminar/Training/Conference Expenses
Purchases must be made for the sole benefit of the beneficiary at the sole discretion of the trustee.