The mission of The Utah Pooled Trust is to manage financial assets for people with disabilities without compromising their government benefits. The Trust is intended to provide extra and supplemental services for the care, support, comfort, education, and training of the beneficiary over and above public and/or private benefits.
The Utah Pooled Trust was established in order to enhance the quality of life for persons with disabilities. You always have the option of hiring an attorney and finding a financial institution or a family member that will serve as the trustee for your own personal account. By allowing TURN as trustee to serve you, you will work with a team that is experienced in providing for people with disabilities and who care about the well being of your loved one. TURN can offer professional advice and planning services at a low cost. Our goal is for parents and guardians to have peace of mind.
For more information, contact:
How the Trust Works
The Trust is established by putting funds that are considered an asset of a person with a disability into it. These funds may come from various sources including, but not limited to, insurance or personal injury settlements, proceeds from the sale of a house or an inheritance. Putting these funds into The Utah Pooled Trust, make them exempt from being considered an asset and therefore do not affect the beneficiary’s eligibility for public benefits. For investment purposes, the funds are pooled together with other beneficiaries’ funds. Each person in the Trust has a sub-account and the communal net income is allocated proportionally to each of those accounts.
How The Money Can Be Used
The Trust’s purpose is to provide supplemental services for the care, support, comfort, education, and training of the beneficiary—beyond what is provided to them by public benefits. Food and shelter are NOT supplemental needs. The Trust money CANNOT be used for groceries, rent or mortgage payments if the beneficiary receives Supplemental Security Income (SSI). Supplemental needs are anything that is not considered a necessity, including, but not limited to:
Medications, Dental Care, Healthcare Not Covered by Insurance, Companion Services, Burial Plans, Mental Health Services, Medical Devices, Home Modifications, Phone Service, Cable/Internet Services, Legal Services.
Who Can Participate
The Utah Pooled Trust is intended for any Utah citizen with disabilities. The Trust can be self-funded with assets owned by the beneficiary or third-party funded with assets from a donor (parent, guardian). Upon the death of the beneficiary, the remaining money is distributed as follows:
1. A Self-Funded Trust’s remaining balance may be retained by the Trust to assist other clients of the program. Otherwise any balance must reimburse Medicaid funds expended on behalf of the beneficiary.
2. A Third-Party Trust lists individuals and/or organizations to which the remainder of the Trust is payable. They are chosen by the donor and indentified in the contract.