Good news for Seniors with Special Needs

October 27th, 2012

The Third Circuit Federal Court of Appeals recently held that Special Needs Pooled Trusts are indeed available to individuals 65 and older. The court also held that a charity which sponsors such a trust may retain 100 percent of the remainder of the trust once a beneficiary dies. This means no Medicaid payback is required after the death of the beneficiary. As this is the only Special Needs Trust that can be created for a disabled person 65 and older, this is great news for disabled seniors who would otherwise qualify for Medicaid. See Pooled Trusts: Third Circuit Decision of Note, available at:  www.aaepa.com/blog/12/10/pooled-trusts-circuit-decision-note/?inf_contact_key=7d2e6d2442d83555d1d9c005211c240a71cb6efba130a93388706e406f4216092