so a pooled income trust in new york is
specifically used for the overages in
medicaid’s allowed income
if you are applying for medicaid so for
example
it fluctuates anywhere from eight to
nine hundred dollars a month
uh that you can have and still receive
benefit meaning you can have up to eight
to nine hundred dollars a month in
income roughly
uh and still receive medicaid
anything over that amount gets put into
what’s called a pooled income trust
which is not a trust that we write it’s
a non-profit organization whose sole
purpose is to pay the person’s bills
so same way that a special needs trust
works or a supplemental needs trust a
pooled income trust is very similar in
the sense that it’s used
to
supplement your living expenses during
life and the overage is simply donated
by the not-for-profit 501 3c or your
special needs trust