First Party Guardian Pooled Trust
The Guardian Pooled Trust was created in 2002 with the sole purpose of helping people with disabilities qualify for or maintain Medicaid and SSI. We provide the highest quality of service to our beneficiaries, their families and their professionals.
OBRA ’93 allows a charity to establish and manage a special needs trust called a Pooled Trust. Medicaid and Supplemental Security Income (SSI) provide a basic level of support for food, shelter, and medical care. A Pooled Trust can “fill the gap” between basic support and the needs and comfort of a beneficiary and supplement the basic support.
In a Pooled Trust, the income and assets of an individual with a disability may be managed by a not-for-profit association. The SSI definition of disability is used. Separate sub-accounts are maintained for each beneficiary. Upon the death of a beneficiary, the funds remaining in that beneficiary’s account are retained by the trust if the Pooled Trust agreement so provides. An advantage of the Pooled Trust is that the income and assets of the pooled trust are not considered an available resource to the beneficiary for Medicaid eligibility purposes. Yes, a Pooled Trust can be used in lieu of a QIT (Qualified Income Trust) for eligibility purposes.
Another advantage is that as the Pooled Trust already exists – a new trust would not have to be created each time a beneficiary wants to join. The Pooled Trust requires only a joinder agreement for new beneficiaries.
Contact our office if you have any questions.
- The Beneficiary must meet the Social Security definition of disabled. The Social Security definition is as follows: Disability under Social Security is based on your inability to work. We consider you disabled under Social Security rules if you cannot do work that you did before and we decide that you cannot adjust to other work because of your medical condition(s). Your disability must also last or be expected to last for at least one year or to result in death.
- The Joinder Agreement must be signed by a parent, grandparent, legal guardian of the Beneficiary, the Court, or by the individual Beneficiary.
- The assets used to fund the Sub-Account must be the Beneficiary’s.
- The Beneficiary’s Sub-Account must be established for the sole benefit of the Beneficiary.
- First and foremost, we strongly recommend that you seek legal advice before opting to establish a Pooled Trust account. If you do not have a qualified attorney to advise you we can help you find one in your area.
- The Guardian Pooled Trust Joinder Agreement must be signed and completed by the Beneficiary or their representative. If you would like to download our forms you will need to download Adobe Reader if you do not already have it on your computer.
- Download the Pooled Trust Joinder Agreement
- Download the Declaration of Trust
- Español – Joinder Agreement
- Click here for a Sample Petition and Order for a Guardian to Establish a Pooled Trust
- We prefer that you email or fax (727-754-5948) the completed Joinder Agreement to us. You may also mail or hand deliver it to our office at:
901 Chestnut Street, Suite C
Clearwater, FL 33756