LCG Community Pool Trusts

What is a Pool Trust

LCG Community Trust is a pooled trust established pursuant to, and is intended to comply with the provisions of 42 USC 1396 (p) (d) (4) (commonly known as 013RA ’93), New York Social Services Law Section 366 (2) (b) (2) (iii) (B), the New York State Department of Health and rules and regulations promulgated thereunder.

The purpose of this Trust is to provide for the collective management and distribution of the Trust Estate in behalf of eligible beneficiaries who are disabled as defined in Social Security Law §1614 (a)(3) [42 U.S.C. §1382c{a) (3)].

The Trust is intended to provide, in the sole and absolute discretion of the Trustee, extra and supplemental services and benefits for the care, support, comfort, education and training of the beneficiaries in addition to and over and above benefits they already receive, are entitled to receive or may receive or be entitled to receive in the future as a result of their present or future disabilities from any federal, state or local government program, agency or department.

Self-Directed Asset Trust

A Self-Directed Asset Trust allows disabled individuals to manage their own trust, with a minimum contribution and monthly fees, while retaining some control over the trust’s remaining funds after their death.

Third Party Asset Trust

A Third Party Asset Trust is managed by a third-party trustee and has similar fees and beneficiary designations as the Self-Directed Asset Trust.

Medicaid Spend-Down Trust

A Medicaid Spend-Down Trust allows disabled individuals to qualify for Medicaid by depositing excess income into the trust, with fees and beneficiary designations similar to the other trusts, but with all remaining funds retained by the trustee organization upon the beneficiary’s death.

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