Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

pooled trust

Read a random definition: tare

A quick definition of pooled trust:

A pooled trust is a type of trust where multiple people's assets are combined and managed by a non-profit organization. This is often used by people with low income or special needs to have assets that don't affect their eligibility for government programs like Medicare or Supplemental Security Income. The non-profit manages the assets and distributes them periodically to the individual. When the individual passes away, any Medicare benefits received must be repaid from the remaining assets before beneficiaries can receive anything. Third-parties can contribute to the trust, and these assets are not used to repay Medicare benefits. A pooled trust can also refer to a trust managed by a non-profit organization to benefit the organization after the individual passes away. This structure can have tax benefits for the individual and increase the benefits to the non-profit organization than a normal trust may.

A more thorough explanation:

A pooled trust is a type of trust where assets from multiple individuals are combined and managed by a non-profit organization. This type of trust is often used to benefit those with low income or charities.

  • For individuals receiving Medicare or Supplemental Security Income (SSI), a pooled trust allows them to have assets that do not affect their eligibility for these programs. The assets are managed by a non-profit organization, and as long as certain rules are followed, they will not be counted towards income limits. This can be helpful for individuals with special needs who inherit assets and want to avoid triggering any limits.
  • Non-profit organizations may also create pooled trusts to increase their income. Individuals can have their trust managed by the organization and receive benefits for life, with the assets going to the organization after they pass away. This structure can have tax benefits for the individual and reduce management fees of assets.

Both examples illustrate the concept of a pooled trust, where assets from multiple individuals are combined and managed by a non-profit organization. This can provide benefits such as avoiding income limits for government programs or increasing income for a non-profit organization.

Ponzi scheme | Popular action

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
LSD+ is ad-free, with DMs, discounts, case briefs & more.