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Special Needs Pooled Trust 

LSS Special Needs/Self-Funded Pooled Trust

woman smiling at man in wheelchair

A Special Needs/Self-Funded Pooled Trust is designed to provide funds for the needs of a qualified individual with disabilities. The goal is to improve the quality of life for the individual, while retaining eligibility for public benefits.

LSS Pooled Trust Services are available in Minnesota and North Dakota.

A Special Needs/Self-Funded Pooled Trust can be established by an individual with a disability, the individual’s parents, grandparents, legal guardian or a court. The Pooled Trust protects funds received from lump sum payments such as personal injury settlements, retroactive disability payments, savings or inheritances that would otherwise disqualify an individual from receiving Medicaid (medical assistance), Social Security income or other public benefits.

The LSS Special Needs/Self-Funded Pooled Trust offers a low-cost way for individuals to access funds for expenses not covered by public benefits — the extras that bring joy and improve quality of life.

The LSS Pooled Trust accepts only liquid assets and all subaccounts must be irrevocable and established for the sole benefit of the individual.

Pooled Trust eligible expenses
Accessing the funds in your Pooled Trust

To see if a Pooled Trust is the right fit, we recommend a comprehensive review of the current and anticipated needs of the individual (i.e. furniture, equipment, education, and travel and burial plan) prior to funding a Pooled Trust account.

This type of trust requires a provision to reimburse the State upon the death of the individual.

Opening a Pooled Trust Account

We encourage you to engage, and may require you to retain, an attorney to review the documents and complete the check list on the Joinder Agreement.

Opening an account for an individual who has a Guardian or Conservator may require the action of the court to appoint LSS as the Trustee for the individual.

To open a Pooled Trust, you will need to complete several forms.

Minnesota Residents, access Minnesota forms

North Dakota Residents, access North Dakota forms

Fees associated with opening a Pooled Trust account

Contact

Pooled Trust Services

888.806.6844