Why a Pooled Special Needs Trust?

The Omnibus Reconciliation Act of 1993 established two new types of special needs trusts; the pooled trust and the individual payback trust. A major advantage of these trusts over older third party special needs trusts is that the newer pooled and payback trusts can receive assets directly from the trust beneficiary him or herself. This means that qualifed trust beneficiaries can now transfer their own assets into a trust in order to become or remain financially eligible for public assistance benefits, while also preserving their resources for special and supplemental needs.