What happens to pooled trust after death?
Any money left in the Pooled SNT after you die will be used to pay back the State Department of Health Care Services for the amount of money they spent on Medi-Cal for you after the trust was set up. If money is still left over, it can be given to whomever you tell the trustee you want it to be given.
How does SCS pooled trust work?
By establishing a Pooled Income Trust, the beneficiary obtains the benefit of having their monthly income available to them to pay for their living expenses without contributing to the cost of their medical care. SCS Pooled Trust Services offers customized solutions for each client's individual needs.
What expenses can be paid from a pooled trust?
Permissible Expenditures
- personal needs allowance.
- health insurance premiums for the disabled individual.
- medically necessary medical expenses.
- family or spouse's maintenance allowance.
- legal and professional expenses, including trustee, accounting, guardian, conservator and attorney fees.
- prepaid burial expenses.
How does a pooled income trust work?
How a pooled income fund works. A pooled income fund is a type of charitable trust that gets its name from the fact that contributors' resources are pooled for investing purposes. Unlike a giving circle, in which donors pool resources and agree on which nonprofits to support, there is no collaboration among donors.