pooled trust

An irrevocable, discretionary trust that (1) is established and managed by a nonprofit association, (2) is funded with the assets of disabled persons, and (3) maintains a separate trust account for each beneficiary, but (4) pools the trust assets for investment purposes.

• If the trust provides for distribution of a deceased beneficiary’s interest to the state in reimbursement of Medicaid expenditures, a pooled-trust beneficiary may be eligible for Medicaid benefits. The assets contributed to the trust for the individual’s benefit are not treated as the beneficiary’s property.

— Also termed pooled-assets trust.

---

词条贡献者

法律翻译Jessie，在一家亚洲一流律师事务所的北京办公室担任全职法律翻译，擅长翻译有关港口、铁路、公路与海运的法律文件。