WHAT IS A POOLED TRUST UNDER OBRA93?
It operates like pension plan with a master trust and joinder agreements. A beneficiary joins the trust and has a separate account for the contribution made to or for the benefit of a beneficiary. The trustee must be tax exempt organization. There will be no payback to any government agency if the trust retains the entire amount in the account of a deceased beneficiary. The separate accounts may be pooled for investment purposes. Special needs items can be paid from the trust without endangering the beneficiarys eligibility. This trust can be used as a safe harbor to protect a beneficiarys eligibility when a personal injury recovery is obtained.
