trustservices.nysarc.orgNYSARC Trust Services – Protecting Benefit Eligibility

PO Box 1531 Latham, New York 12110 Fax: (518) 439-2670 Email: trustdept@nysarc.org Sign up Log in Call us: (518) 439-8323 Menu About Trustees Executive Staff Financials Why NYSARC Our Trusts First Party Trusts Community Trust I Community Trust II Community Trust III Medicare Set-Aside Third Party Trusts Third Party Community Trust NYSARC Trust Unrestricted Fund Purpose of a Trust How it Works Contact Join the Trust EN Trusted Since 1972 Helping people with disabilities qualify financially for Medicaid and protect money to preserve a person’s eligibility for means-tested benefits Community Trust I Pooled Trust for Excess Assets Protect funds to maintain financial eligibility for Medicaid and SSI. Community Trust II Pooled Trust for Monthly Income Deposit excess monthly income to qualify for Community Medicaid. Community Trust III Pooled Trust for Assets of $250K Protect large windfalls such as a settlement award or a direct inheritance. Third Party Community Trust Third Party Pooled Trust For families who wish to leave money to a loved one with a disability without affecting benefit eligibility. NYSARC Trust Unrestricted Fund Unrestricted Fund For families who wish to leave money to a loved one with an intellectual or developmental disability. Thursday, June 6th @ 10 AM Pooled Trusts to Protect Income and Assets Pooled trusts can help a person protect their own income and assets and make it possible for families to leave an inheritance to their loved ones without jeopardizing their benefits. Learn the unique advantages of pooled trusts and when it makes sense to consider joining a pooled trust. Register Upcoming Webinars in 2024 Join Our Mailing List Stay up to date about future learning opportunities and webinar trainings in 2024. To watch previously recorded webinars, visit www.nysarctrustservices.org/webinars . Sign Up Special Needs Trust, New York Providing Financial Security and Peace of Mind Our pooled supplemental needs trust services improve the lives of people with disabilities and older adults by protecting income and assets so they can financially qualify for Medicaid community services and maintain eligibility for means-tested government benefits. This enables the people we serve to thrive within their community and provide the means to make life-enhancing purchases that are not covered by those benefits. Purpose of a Trust How It Works Getting Started Documents & Forms Am I eligible? Resources Join the Trust Why Choose NYSARC? Experienced Benefit Protection since 1972, we have the knowledge to best serve you and your family Exceptional Customer Service from a responsive team dedicated to the needs of our beneficiaries Comprehensive Administrative Fees cover all trust activity, no limit on monthly requests and no annual renewal fees Convenient Account Management with electronic deposits and automatic payment options 24/7 Access via Online Portal to manage accounts, make disbursement requests, verify deposits, and more Accounts Opened Quickly with low minimum funding requirements We have the experience and expertise to preserve your financial eligibility for benefits. About NYSARC Our Impact Our Beneficiaries Experience the Difference NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need.” ~ Family of Trust Beneficiary Yours is the gold standard by which all agencies should be measured.” ~ Caregiver of Trust Beneficiary The quality of service offered by NYSARC Trust Services is unparalleled.” ~ Professional With a NYSARC trust we know she will always be cared for.” ~ Family of Trust Beneficiary You enable seniors to live their remaining lives with dignity. The work you do is appreciated more than you know.” ~ Caregiver of Trust Beneficiary Your organization is a magnificent group of people dedicated to providing the elderly and disabled with a life of dignity.” ~ Community Trust Beneficiary Our Impact 25000 + Lives improved by our services 1972 Long history and extensive experience 62 Serving all counties of New York State $ 30 + Million Distributed last year for life-enhancing purchases Frequently Asked Questions About Pooled Trusts We are here to help guide you and answer any questions you have! Review these frequently asked questions for more information and call customer service (518) 439-8323 if you would like assistance getting started. What is a pooled trust? A pooled trust is a special type of irrevocable supplemental needs trust where a not-for-profit trustee agrees to manage assets for the benefit of a person with a disability. This allows individuals to protect money to gain and maintain financial eligibility for means-tested government benefits, including Medicaid and Supplemental Security Income (SSI). Funds deposited into the trust help pay for items and services that are for the primary benefit of the trust beneficiary, such as monthly living expenses and life-enhancing purchases that a person’s benefits typically do not provide. In New York, the non-profit works with a financial institution who serves as co-trustee and manages investments. Separate sub-trust accounts are maintained for each trust beneficiary, however, funds are pooled for investment and management purposes. Why should I join a pooled trust? The primary reason to establish a pooled trust is to protect funds so that a person can qualify and/or maintain financial eligibility for means-tested government benefits. Pooled trusts allow people to reduce their countable income to qualify for Medicaid community services and home care so that they can live independently at home for as long as possible. Pooled trusts are also used to protect windfalls of money that would put a person over the limits to receive Medicaid or SSI benefits. This allows the individual to use the funds throughout their lifetime rather than having to spend them quickly to avoid an interruption or reduction in services. You will also receive the benefits of working with a team of representatives who will assist you in using the funds in the trust account. NYSARC reviews each request individually to consider it’s impact on government benefits and to spend funds wisely on life-enhancing purchases that are for your primary benefit. Primary reasons to establish a pooled trust... Protect excess monthly income to qualify for Medicaid Preserve funds to avoid going over the limits for SSI or Medicaid Plan for the future of a loved one with a disability Safeguard funds to be spent appropriately and wisely Non-profit trust administration for families who do not wish to serve as trustee How it works? By depositing your excess funds into a pooled trust, you can qualify and maintain financial eligibility for benefits and use the money in your trust account to pay for items and services that your benefits do not provide, such as monthly living expenses, uncovered medical costs, adaptive equipment, recreation, transportation, education, and other life-enhancing purchases. You can deposit funds into the trust by electronic deposits from your bank account or by mailing a check. When you wish to use the funds in your account, complete a disbursement request form and attach the appropriate documentation for the item or service you would like the trust to pay for. Certain fixed, recurring monthly expenses can be paid automatically on a scheduled day. To learn more, visit How it Works. How to establish and fund a pooled trust? A pooled trust is easy and inexpensive to establish because approved trust documents are already in place. To get started, complete the Joinder Agreement (trust application) for the trust you would like to establish from Trust Documents. For further instructions on where to send your application and initial deposit, visit How to Establish a Pooled Trust . We are here to help guide you through the enrollment process. Please call customer service at (518) 439-8323 for assistance. Which...