About CLC Trusts Two Choices CLC Supplemental Needs Pooled Trust is sponsored and managed by Community Living Corporation, Inc. a not-for-profit agency headquartered in Mount Kisco, NY. Currently, two separate Trusts are available, a Self-Settled Pooled Trust (PT2) and a Third-Party Settled Pooled Trust (PT1). Participation in either enables persons with a disability to maintain eligibility for government benefits such as Medicaid and Supplemental Social Security (SSI), and still set aside monies in the Trust to pay for their own supplemental needs.
Funds deposited in either of the CLC Trusts can pay for items not covered by Medicaid or SSI such as vacations, clothing, certain medical expenses, and other extras that enhance a participant's quality of life. A CLC Trust can be established to provide for those needs without ever jeopardizing current or future government benefits. Once a participant has officially joined a CLC Trust, funds are deposited into one of the two independently managed Trusts, where individual accounts are maintained at a major financial institution. Money can be deposited or withdrawn for eligible expenses when needed. CLC oversees and records all transactions into and out of each account to ensure compliance with Trust guidelines.
Two Types of CLC Trusts
CLC's Supplemental Needs Pooled Trust Agreements are available in PDF format. For more information about our Trust Corpus and Sponsorship Agreements, please call or e-mail your request to jjsignorelli@optonline.net
Self-Settled Supplemental Needs Pooled Trust 2 (PT2) _________________
Consumers can establish a PT2 with a small deposit. Funds in the Trust are used to pay for daily supplemental needs, or can be saved for expensive items such as vacations, computers, televisions, etc. without the loss of government benefits such as Medicaid and SSI.
At the time the Trust is established, participants have a choice regarding any remaining funds left in their account when they pass on. They may elect for remaining monies to be repaid to Medicaid for money spent on their medical care, or they may leave the remaining funds in the Trust for the benefit of the other Trust participants.
Third-Party Settled Supplemental Needs Pooled Trust 1 (PT1) __________________
A Third-Party Settled Pooled Trust is a way for parents, grandparents, and guardians to set aside money for the benefit of their permanently disabled loved one in order to pay for needs not covered by government funding. It is also a way of guaranteeing that medical treatment will not be limited to what Medicaid and other government insurance programs offer.
A minimum deposit of $10,000 is required to establish a trust. However, additional deposits do not need to be funded entirely with today's dollars. Sponsors can structure their estate to contribute funds upon the death of one or both parents or at any other time that the sponsor might choose.
A parent, guardian or other financial contributors can tailor the Joinder Agreement so that the remaining monies in the Trust go to siblings or other relatives upon the death of the participant. This option is only available with the Third-Party Settled Pooled Trust (PT1) and guarantees the flexibility that many other trusts of this kind do not offer. Government benefits remain unaffected by participation in the Trust.