Self Settled Trust

Benefits for Life—and Beyond

A Self Settled Trust protects the proceeds received from personal injury awards, inheritances or Social Security settlements, making funds available for medical expenses not covered by Medicaid.

When this trust is a Pooled Trust—such as that offered by Life’s WORC Trust Services—it could benefit other people with disabilities too. Because while any funds remaining in an individual Self Settled Trust at the beneficiary’s death must be used to repay their Medicaid costs, funds remaining in a Self Settled Pooled Trust remain with the trust—and can be used to benefit other persons with disabilities.

The Life’s WORC Self Settled Pooled Trust:

  • Is funded by the beneficiary typically from the monies they receive from a court order, inheritance, life insurance payout, medical malpractice, personal injury action or their earnings.
  • Can be used for virtually anything that enriches the beneficiary’s life from medical expenses Medicaid or other insurance does not cover, to daily living expenses, recreational activities and vacations. Trust assets supplement—but do not replace—government entitlements.
  • Protects government entitlements. Trust assets are not countable resources for Medicaid and SSI purposes, so the individual will not lose benefits or services due to funding a trust to meet maximum income or resource requirements.
  • Benefits others too. Any funds remaining at the beneficiary’s death remain with the trust to support other people with disabilities.
  • Is professionally managed by people who care. Life’s WORC staff is responsive to your needs. We also work with Key Private Bank, which has extensive experience in the areas of individual and pooled trusts.

Ready to join the trust? Review these trust documents with your attorney first.

Want to find out more about Life’s WORC Self Settled Pooled Trust?

Contact us today