Self-Settled Pooled Trusts
A self-settled trust account is one that is funded with the disabled individual’s own resources.
Typically, this is where a disabled individual’s assets exceed the financial resources test for government benefit programs.
Sources of Funding – Common sources of funding a Self-Settled Trust include: Personal Injury Settlements, Medical Malpractice Settlements, Other Law Suits, Court Orders, Structured Settlement or Lump Sum Payments, Inheritances, Life Insurance Payouts, Retroactive Benefit Payments or Other Earnings.
Remainder Designation – Beneficiaries have the option of leaving any funds which remain in their pooled trust account upon their death to the trust in order to support other individuals with disabilities. Any funds which are not retained by the trust must be used to reimburse the State for the cost of medical assistance provided during the beneficiary’s lifetime.
Preservation of Government Benefits – Establishing a self-settled trust account will not jeopardize your eligibility for government benefits.
Dedicated Professionals & Personalized Service – CLC Foundation’s dedicated team of professionals has more than twenty (20) years of experience in Supplemental Needs Trust Administration and is committed to putting your needs first.
At CLC Foundation, our clients represent our highest priority and we are committed to providing superior individualized service to trust beneficiaries.
Trust Funds – The funds in your account can be utilized to pay for a variety of good and services not covered by your other benefits including daily household expenses, recreation, vacations and unreimbursed medical expenses.