Services for People with Disabilities

Services

Managing your Pooled Trust


 As trustee, LSS has responsibility for carrying out the purpose of the trust, which is to supplement and not supplant public benefits, and help the beneficiary lead a comfortable and fulfilling life.

As a mission-based provider, LSS assess the beneficiary’s needs and desires through regular contact with the beneficiary – which is the best way to ensure the intentions of the trust are met.


LSS Pooled Trust Investment Practices

LSS Pooled Trust funds are managed by a reputable and highly-rated investment firm chosen by LSS based on its financial stability, management fees and proven track record of achieving earnings for clients.

LSS Pooled Trust maintains a separate sub-account for each beneficiary. The sub-account maintains records of each individual’s contributions, expenditures and costs. The trust funds are pooled with other sub-accounts for the purposes of investment and management of funds. By pooling the funds of all of our clients for investment and management purposes, the administrative expenses of these trusts are frequently lower than those of individual trust accounts.

The income (interest) and assets of a trust subaccount are available to the beneficiary for eligible expenses.


LSS Pooled Trust Utilization Management

 Ensuring the individual remains eligible for public supports is an essential function of a Pooled Trust. Those key supports are the foundation of the independence and stability for persons with a disability.

Allowing assets to be placed in the Pooled Trust and having a knowledgeable Trustee oversee the utilization helps ensure funds are used solely for the benefit of the individual, that the individual’s public benefits are protected, and that the individual is appropriately financially supported through a combination of public benefits and their own financial means.

Accessing Your Pooled Trust Funds
Accessing your pooled trust funds is also quite easy. Funds are typically disbursed within 10 business days.

Individual submits request
Requests can be submitted by phone, email or in writing.  For protected persons, an LSS staff person will take an active role in identifying special needs of the beneficiary, when appropriate.

Request is reviewed for compliance
Requests are reviewed by an LSS Pooled Trust specialist for legal compliance to ensure the funds will be used for goods and/or services not covered by the public benefits and in the best interests of the beneficiary. The decision of the LSS Trustee is final.

Approved requests are processed and delivered
Requests authorized by the LSS Trustee are processed for payment. A check is issued from the investment house. Goods and/or services are purchased by LSS, or an interested party, and delivered to beneficiary.


Opening a Pooled Trust Account

 Join the LSS Pooled Trust with investment levels significantly lower than those required by banks and other trust companies. Participation is affordable, the risks are low and accounts can be established quickly – typically within 3-5 business days.

Opening a Special Needs Pooled Trust >

Opening a Supplemental Needs Pooled Trust >