CLC Pooled Supplemental Needs Trust

Personalized Financial Service.

A CLC Pooled or Private Supplemental Needs Trust offers financial security and enhanced quality of life for disabled individuals while maintaining their eligibility for important government benefits such as SSI and Medicaid.

CLC Foundation’s dedicated team of professionals have more than twenty (20) years of experience in Supplemental Needs Trust Administration and is committed to putting your loved one’s needs first.

Trust funds can be utilized to purchase a variety of good and services not covered by government benefits including daily household expenses, recreation, vacations and unreimbursed medical expenses.

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Self-Settled Trusts

A Trust Funded by the Disabled Individual.

A Self-Settled Trust account is one that is funded with the disabled individual’s own resources. Typically, this is where a disabled individual’s assets exceed the financial resources test for government benefit programs.

Sources of Funding – Common sources of funding a Self-Settled Trust include: Personal Injury Settlements, Medical Malpractice Settlements, Other Law Suits, Court Orders, Structured Settlement or Lump Sum Payments, Inheritances, Life Insurance Payouts, Retroactive Benefit Payments or Other Earnings. 

Remainder Designation – Beneficiaries have the option of leaving any funds which remain in their pooled trust account upon their death to the trust in order to support other individuals with disabilities.  Any funds which are not retained by the trust must be used to reimburse the State for the cost of medical assistance provided during the beneficiary’s lifetime.

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Third Party Trusts

A Trust Funded by Family or Others.

A Third Party Trust account is one that is funded by a parent, grandparent, sibling, guardian, friend, or other persons for the disabled individual’s sole benefit. This type of trust account enables family and friends to set aside funds for a disabled loved one in order to provide for their present or future supplemental needs.

Timing of Trust Funding – Third Party Trust Accounts can be funded immediately, or established today and funded at a future date through your estate plan. 

Remainder Designation – Trust Sponsors enjoy additional flexibility with the choice of designating family members to inherit any funds which remain in the beneficiary’s pooled trust account upon their death.

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