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Staten Island, New York 10314

(718) 761-6464

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​​What is a 
Pooled Trust?

​If you are in need of long-term care at home, community-based Medicaid (waivered services) is available to those over the age of 65 with certain income and asset levels. The income levels that are allowed are often too low to support the Medicaid recipients daily needs and expenses. If you (or a loved one) is looking to apply for community Medicaid and your income levels exceed the allowed community Medicaid income levels, the excess income can be placed into a Pooled Income Trust.


For instance, as of 2017, the current monthly income allowance is $825.  If you are receiving monthly income in excess of this amount, the excess income must be placed into the Pooled Income Trust in order to protect it. Otherwise, the excess income will be lost because Medicaid will require that the excess income be applied towards your care.

In addition, if you are on community Medicaid and/or SSI, are blind and/or disabled, and are coming into a sum of money (e.g., through a personal injury settlement or through an inheritance) you may be able to protect a signifiant portion (if not all) of the asset to supplement your monthly living expenses (e.g., entertainment, vacations, home improvements, furnishings, etc...) through a Pooled Asset Trust regardless of your age. However, upon your death, the remainder of the asset will not go to your heirs or your estate. 

A Pooled Trust is established and maintained by charitable organizations that allow you to protect the excess income (or assets) for your monthly expenses. You simply submit your monthly bills and expenses to the charitable organization establishing the trust and your bills will be paid less the trust's maintenance fees.


If you are interested in establishing a Pooled Income Trust or a Pooled Asset Trust and would like further information, please contact Mark Gallo, Esq. at 718-761-6464.
Law Firm of Gallo & Spero, LLP - Staten Island, NY Elder Law, Estate Planning, Personal Injury Accident Attorneys