The Toughest Kids Pooled Trust is focused on providing convenient and cost effective fiduciary services for disabled persons, catastrophically injured individuals, minors, foster children, elderly and others in need, while also maintaining financial eligibility for public assistance benefits.
Our Mission
How Does a Pooled Special Needs Trust Work?
Like any type of Special Needs Trust, a Pooled Special Needs Trust (PSNT) is a legal trust instrument that is considered an “exempt” resource for the purpose of maintaining or establishing a disabled person’s financial eligibility for such government benefits as Supplemental Security Income (SSI) and Medicaid. A PSNT is governed by a Master Trust Agreement, which serves as the single trust document to which multiple beneficiaries are “joined” through the completion of a Joinder Agreement. In this way, the legal work to establish a trust for a new disabled beneficiary has already been done.
Set up of a new account in the Toughest Kids Pooled Special Needs Trust is simple and efficient:
How Does a Pooled Minors Trust Work?
The Pooled Minors Trust (PMT) is a flexible trust option designed to comply with Court Orders and spendthrift requirements associated with a minor’s settlement or financial allocation. The trust permits parents and legal guardians to allocate monies for minor children with a range of features that allows access to the funds for the child’s Health, Education, Maintenance and Support (HEMS account). It also provides total spendthrift protection to prevent wasteful dissipation of the funds (Blocked account). Account setup in the Toughest Kids Minors Trust is the same as a Pooled Special Needs Trust.
PMT Blocked Account
- Trustee holds and invests funds as selected until the age of majority, or later, as ordered by a court
- No distributions until the age of majority
- Reduced account administration and setup fees
PMT H.E.M.S Account
- Trustee holds and invests funds as selected until the age of majority, or later, as ordered by a court
- Distributions can be made for the Health, Education, Maintenance and Support of the minor as defined in the Master Trust Agreement and/or approved by the Court
- Distributions are for the sole benefit of the minor beneficiary and are not intended to replace or supplement support obligations of the parents or guardians