Having loved ones and dependents who are disabled can weigh heavily on you as you get older. You want to make sure that your loved one is provided for after you are gone. Problems can arise however if your loved one is receiving state benefits like Supplemental Social Security. Too large of an inheritance can end up causing them to lose their benefits. This is where a pooled trust comes into play.

The Pooled Trust as an Alternative

A pooled trust is a way that you can provide financial support for your disabled loved one without causing their assistance to become lost. Inheritance that is left to the individual is kept under the watch of a non-profit organization. They are then tasked with using the funds that are left in their control to provide for your loved one.

If there are multiple sources of assets that may put their benefits into jeopardy, the pooled trust is set up to handle this. That means that inheritance can be combined with other inheritance or legal settlements into the pooled trust. Each fund will be kept in a separate account and then distributed out by the managing agency to cover the needs of the individual.

Check Your Local and State Laws

Before considering a pooled trust make sure to look at your state and local laws for specifics on them. If you have questions then contact the legal experts at Stano Law Group.