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List of Pooled SNTs in New York State

Views: 27135
Posted: 01 Aug, 2008
by David Silva (New York Legal Assistance Group)
Updated: 06 Oct, 2014
by David Silva (New York Legal Assistance Group)

This is an unofficial list of non-profit organizations in New York State that offer pooled Supplemental Needs Trusts (or similar services) to people with disabilities.  We do not claim that this is an exhaustive list; there may be other pooled trusts in the state of which we are unaware.  In addition, the specifics about each trust may not be up to date, so the best source of information is to contact the trust organization directly.  Please let us know if you find any corrections.

Name and Contact Info Comments Accepts monthly income to eliminate Medicaid spend-down

Adults and Children with Learning & Developmental Disabilities, Inc. (ACLD)
807 South Oyster Bay Road
Bethpage, NY 11714
http://www.acld.org/

Colleen Crispino
516-822-0028 x 138
crispinoc@acld.org

Trust A - third-party trust

Trust B - self-settled trust

No
AHRC NYC Foundation
83 Maiden Lane
New York, NY 10038
(212) 780-2690
info@ahrcnycfoundation.org
http://www.ahrcnycfoundation.org/

Community Trust I for Persons with Disabilities

  • Third-party trust
  • Minimum contribution: $10,000
  • Annual fee of <1%

Community Trust II

  • Self-settled trust
  • Minimum contribution: $10,000
  • Annual fee of <2%
No
Camphill Resident's Trust
317 Church Street
Phoenixville, PA 19460
(610) 291-5079
info@camphilltrust.com
http://www.camphilltrust.com/
The minimum for starting a CRT account is $ 15,000. However, an initial deposit of as little as $ 3,000 may open an account with the remainder of the $ 15,000 to be deposited within two years.  Additional contributions, in amounts of $ 100 or more, can be made at any time to an established CRT account. No

Catholic Family Center
30 N. Clinton Avenue
Rochester, NY 14604
(585) 232-1840 x4003 / x4022
http://www.cfcrochester.org/

  • Formerly Family Service of Rochester
  • They do not operate a pooled trust, but will serve as trustee for individual SNTs
  • This might be a good option for individuals under 65 who want to establish an individual SNT, but where the trust corpus is too small to afford a for-profit institutional trustee
  • They can serve as trustee for lump sums, but also for monthly excess income
  • The trust agreement must specify that CFC receives the statutory trustee fee
  • CFC must be contacted by the attorney during drafting of trust
  • Beneficiaries must have a case manager or other go-between
Yes

Center for Disability Rights, Inc.
497 State Street
Rochester, NY 14608
CDR Pooled Trust Info & Forms

Amanda Flannery or
Mirta Arroyo marroyo@cdrnys.org
Ph: (585) 546-7510
Fax: (585) 546-7567 / (585) 546-7560
  • Self-settled trust
  • No minimum balance
  • $240 start-up cost (includes $200 enrollment fee plus $20 monthly fee and $20 minimum deposit)
  • $20 monthly fee (covers up to 4 disbursements per month; $10 fee for each additional disbursement) 
  • $50 annual accounting fee
Yes

Community Living Corporation (CLC)
600 Bedford Road
Mt. Kisco, NY 10549
(914) 241 2076
clcfoundation@optonline.net
http://www.clcpooledtrust.org

Pooled Trust 1

Pooled Trust 1 is a third-party SNT, established with funds provided by a family member or friend.

  • Minimum Deposit: $10,000
  • One-time enrollment fee $200
  • $1,000 annual fee for accounts under $25,000
  • For accounts over $25,000, annual fee of not less than $1,000 to be negotiated with trustee 

Pooled Trust 2

Pooled Trust 2 is a self-settled SNT, established with funds provided by the beneficiary.

  • Minimum Deposit: $5,000
  • One-time enrollment fee $250
  • $1,000 annual fee for accounts under $50,000
  • For accounts over $50,000, additional annual fee of 1% of balance in excess of $50,000
Yes
Disabled and Alone / Life Services for the Handicapped, Inc.
61 Broadway, Suite 510
New York, NY 10006
Ph: (212) 532-6740 / (800) 995-0066
Fax: (212) 532-3588
http://www.disabledandalone.org/
  • Third-party trust
  • Minimum deposit: $100,000
No

Future Care Community Pooled Trust
(A partnership of Al Sigl Community of Agencies, Lifespan and the Arc of Monroe)
1000 Elmwood Avenue
Rochester, NY 14620
http://www.futurecareplanning.org/

1st Party Lump Sum Pooled Trust

  • $200 enrollment fee
  • $100 minimum balance
  • $2000 minimum opening deposit
  • GVT charges a fair market price for investment services.
  • $22.00 per month additional fee if this trust is used for monthly disbursements

1st Party Spend Down Pooled Trust

  • $200 enrollment fee
  • $100 Minimum balance requirement
  • $ 22 - per month flat fee
  • These fees can be taken from the first month’s spend down deposit.

3rd Party Pooled Trust

Yes (1st Party Spend Down Pooled Trust)

Keep Them Safe Pooled Trust
3011 Avenue K
Brooklyn, NY 11210
Phone: (718) 475-5000
FAX: (718) 475-5010
Email: info@ktstrust.org
http://ktstrust.org/

  • $250 enrollment fee
  • Monthly fee of 10% of required monthly deposit (minimum $30, maximum $200)
  • Annual renewal fee of $100
  • Monthly contributions can be made by ACH direct debt from bank account
Yes

LCG Community Trust
LCG Community Services, Inc.
14 Mount Hope Place
Bronx, NY 10453-6102
(718) 466-2200
Info@lcgcs.org
http://www.lcgcs.org/

Community Trust I – Self-Directed Asset Trust

  • $25,000 minimum contribution within 12 years of enrollment
  • Enrollment fee of 1% of initial deposit (minimum $250)
  • Monthly administrative fee of 2% of funds on deposit (minimum $42)
  • Monthly brokerage fee of 0.042%
  • Annual renewal fee of $100
  • Annual audit and tax return fee of $100
  • Can designate remainder beneficiaries to receive no more than 50% of corpus remaining on disabled beneficiary's death

Community Trust II – Third Party Asset Trust

  • $25,000 minimum contribution within 12 years of enrollment
  • $250 enrollment fee
  • Monthly administrative fee of 2% of funds on deposit (minimum $42)
  • Monthly brokerage fee of 0.042%
  • Annual renewal fee of $100
  • Annual audit and tax return fee of $100
  • Can designate remainder beneficiaries to receive no more than 50% of corpus remaining on disabled beneficiary's death

Community Trust III – Medicaid Spend-Down Trust

  • Minimum monthly deposit: $500
  • $250 enrollment fee
  • Monthly administrative fee of 8.5% of required monthly deposit (minimum $42.50)
  • Annual renewal fee of $100
  • Annual audit and tax return fee of $100
  • All funds remaining in the trust at beneficiary's death are retained by trustee organization
Yes (Community Trust II and III)

Life's WORC Trusts
1501 Franklin Avenue
PO Box 8165
Garden City, NY 11530
516-741-9000 ext. 225
516-348-7878
Fax: (516) 302-1802
Email: trustservices@lifesworc.org http://www.lifesworctrust.org/ 

Self-Settled Trust (Community Trust 1)

  • Self-settled trust
  • Minimum deposit: $500
  • One-time enrollment fee of $250
  • Annual fees:
    • Up to $20,000 - 5% of Account Balance;
    • $20,000 to $50,000 - $1000;
    • $50,000 and above -  additional 1% of balance over $50,000

Third-Party Pooled Trust (Community Trust 2)

  • Third-party trust
  • Minimum deposit: $10,000
  • One-time enrollment fee of $250
  • Annual fees:
    • Up to $20,000 - 5% of Account Balance;
    • $20,000 to $50,000 - $1000;
    • $50,000 and above -  additional 1% of balance over $50,000

Surplus Income Pooled Trust (Community Trust 3)

  • Excess Income Trust
  • Minimum deposit: $300
  • One-time enrollment fee of $250
  • Double the monthly deposit is required before expenses can be paid, with one month remaining available for bill pay
  • Monthly administrative fees are based on monthly deposit amounts:
    • Deposits up to $500 - $50 fee;
    • $501 to $3000 - 10% of the monthly deposit;
    • $3001 to $4000 - $300 fee;
    • $4001 and above please contact Life's WORC Pooled Trusts

YES (Community Trust 3 only)

  

LIFE, Inc. Pooled Trust
(Labor & Industry For Education, Inc.)
112 Spruce St
Cedarhurst, NY  11516
Telephone: (516) 374-4564
http://lifetech.org/life-trust/

LIFE offers:

(i) a self-settled (i.e. established by the beneficiary) monthly spend-down trust
(ii) a self-settled asset trust and
(iii) third-party asset trusts

Yes (Trust I)

NYSARC, Inc. Trust Services
393 Delaware Avenue
Delmar, NY 12054
Telephone: (518) 439-8323
Toll Free: (800) 735-8924
Facsimile: (518) 439-2670
E-mail: trustdept@nysarc.org
http://nysarctrustservices.org

Mailing address
NYSARC Inc. Trust Services
POB 1531
Latham, NY 12110
(for Fed Ex & UPS use Delmar address above)

Community Trust I

  • Self-settled trust 
  • $200 one-time enrollment fee - non-refundable
  • Minimum deposit: $300
  • $25 annual fee charged every July for accounting
  • $1/month Allocation Fee
  • Co-trustee fee of 0.75% annually charged at monthly rate of .0625% based upon balance at end of preceding month
  • Plus, the greater of:
    • 0.9% annual rate, charged monthly at .075% of average monthly assets OR
    • Flat fee of $10/mo. 
  • Intended for lump-sums, not monthly spend-down
  • Remainder at beneficiary's death is retained by trustee

Community Trust II

  • Self-settled trust
  • $200 one-time enrollment fee - non-refundable
  • DOUBLE the monthly spend-down, of which one month is available to pay expenses. The 2nd month must be on deposit like a security deposit
  • $50 annual fee charged every July for accounting
  • $1/month Allocation Fee
  • Pro rata share of annual audit, tax preparation costs for Trust
  • Co-trustee fee of 0.75% annually charged at monthly rate of .0625% based upon balance at end of preceding month
  • Plus, the greater of:
    • 0.9% annual rate, charged monthly at .075% of average monthly assets OR
    • Flat fee ranging from $30-$240 depending upon amount of monthly contribution (for contributions over $4,000, contact NYSARC to determine fee)(Fee schedule posted online)

Community Trust III

  • Self-settled trust
  • No enrollment fee 
  • Minimum deposit: $250,000
  • Intended for lump-sums, not monthly spend-down
  • Monthly fee of 0.06% or 0.075% depending upon balance, plus trustee bank fee not to exceed 0.0625%
    (0.75% annually)
  • Remainder at beneficiary's death is subject to Medicaid recovery, but any amount remaining after that goes 25% to NYSARC and 75% to designated beneficiaries

NYSARC Chart Comparing 3 Pooled Community Trusts 

Links to Documents for all 3 Pooled Community Trusts

Yes (Community Trust II)

The Rose and Maurice Halpern Lifetime Care Foundation at OHEL
4510 16th Ave
Brooklyn, NY 11204
347-695-9700
http://www.ohelfamily.org/
lcftrusts@ohelfamily.org

The Lifetime Care Foundation Community Pooled Trust I
  • Third-party trust
  • A portion of the funds can be invested
  • An initial deposit minimum of $20,000 must be received in order for a client’s funds to be invested. The first $10,000 is kept in a liquid account, and the next $10,000 is invested. At a point when the liquid $10,000 reaches a balance of $0, money will be divested from the investment account to the liquid account in increments of $10,000
The Lifetime Care Foundation Community Pooled Trust II
  • Self-settled trust
  • For those clients wishing to deposit liquid assets into a trust in order to preserve government entitlements, while having a portion of this money invested
  • An initial deposit minimum of $20,000 must be received in order for a client’s funds to be invested. The first $10,000 is kept in a liquid account, and the next $10,000 is invested. At a point when the liquid $10,000 reaches a balance of $0, money will be divested from the investment account to the liquid account in increments of $10,000
The Lifetime Care Foundation Community Pooled Trust III
  • Self-settled trust
  • Can enable disabled individuals and seniors to use their excess income to pay for their own supplemental needs, such as rent, utilities, and medical services not covered by Medicaid and/or other entitlements programs
Fees
  • $900 annual fee (first year's fee due at initiation)
  • $10 fee per check for any payments in excess of three per month
  • For Trusts I & II only:
    • Investment fees of approximately .75% from Bernstein Global Wealth Management
    • 1% investment fund management fee (if placed in investment account)
    • Annual investment fees:
      • 1.5% for $25,000-$250,000
      • 1% for the next $250,000-1 Million
      • 0.5% for additional amounts over 1 Million
Yes

The Theresa Foundation Pooled Trust of New York
250 Lido Boulevard
Lido Beach, NY  11561
(516) 432-0449
http://www.theresafoundation.org

Administered by The Center for Special Needs Trust Administration, Inc.
4912 Creekside Drive
Clearwater, FL  33760
(877) 766-5331
http://www.centersweb.com

http://centersweb.com/SNT/types_pooled_state.html

The Theresa Pooled Trust

  • Self-settled trust
  • Annual fee of 2% of trust assets
  • One-time administrative fee of $2,500
  • Designed for sheltering lump-sums

The Theresa Pooled Income Trust

  • Self-settled trust
  • One-time opening fee of $175
  • Monthly service fee of $25 - $200, depending upon amount of monthly contribution
  • Monthly maintenance fee of 0.875% of account balance
  • Designed for sheltering excess income

The Theresa Foundation Community Trust

  • Third-party trust
Yes

UJA-Federation Community Trust   Program
Department of Planned Giving and Endowments
130 E. 59th street
New York, NY 10022
http://www.ujafedny.org/

Stacy Ferber
(212) 836-1150
ferbers@ujafedny.org

Case management agency for trust beneficiaries:
F•E•G•S - UJA-Federation Community Trust for Individuals with Disabilities
315 Hudson Street, 6th Floor
New York, NY 10013
http://www.fegs.org
Ph (212) 366-8030
Fax (212) 366-8015

Community Trust for Disabled Adults

  • Third-party trust
  • Minimum deposit: $100,000, with at least $20,000 invested initially with remainder to be deposited within 4 years
  • Beneficiary is assigned an advocate from a UJA agency
  • Annual fees: UJA-Federation administrative $1,500/yr. and advocacy $5,000/first yr. then $3,000/yr.
  • Upon the death of the beneficiary, 100% of the remainder is designated as per the Sponsor

Community Trust II

  • Self-settled trust
  • Minimum deposit: $50,000, payable over 5 years if necessary
  • Beneficiary is assigned an advocate from a UJA agency if full advocacy services are selected
  • Annual fees: UJA-Federation administrative $1,500/yr. and financial only advocacy $2,000/yr. or full advocacy $5,000/first yr. then $3,000/yr.
  • Upon the death of the beneficiary, 50% shall be maintained in the Trust and the other 50% is first subject to a Medicaid right of recovery.  If Medicaid has no claim these funds can be designated by the Sponsor.
No
UCS Disability Pooled Trust
1575 50th Street 3rd Fl
Brooklyn, NY  11219
Ph: (718) 854-9300
Fax: (718) 506-9314
trustdept@ucsbp.org

Trust A

  • Self-settled trust
  • Enrollment fee: $250
  • Minimum deposit: $1,000
  • Annual fee of 2.5% of principal for deposits of $1,000 - $30,000; no additional fee for amounts in excess of $30,000
  • Annual renewal fee: $200

Trust B

  • Self-settled trust
  • Enrollment fee: $250
  • Minimum deposit: $100
  • Monthly fee of 10% of required monthly deposit (minimum $30/mo., maximum of $200/mo.)
  • Annual renewal fee: $100
  • Monthly contributions can be made by ACH direct debt from bank account
Yes

Westchester ARC Foundation
121 Westmoreland Avenue
White Plains, NY 10606
http://www.westchesterarc.org/

Anne Sweazey
(914) 428-8330, ext. 3336
asweazey@westchesterarc.org

Community Trust I - third-party trust

Community Trust II - self-settled trust

No

Western New York Coalition Pooled Trusts

Trust Website

Trustees:

People Inc. & Legal Services for the Elderly, Disabled or Disadvantaged of WNY, Key Bank (fiscal trustee)

Contact person: Rachel Schepart (716) 853-3087 (X227)

For downloads and information http://www.lsed.org

Only available to Erie, Niagara, Cattaraugus, Chautauqua and Allegany Counties

WNY Coalition Pooled Medicaid Payback Trust (Trust #1)

  • Self-settled trust
  • Accepts income deposits
  • No minimum deposit
  • Initiation fee: $100
  • Monthly fee sliding scale based on amount deposited

WNY Coalition Over 65 Pooled Trust (Trust #2)

  • Self-settled trust
  • Accepts income deposits
  • Only for individuals aged 65 or older
  • No minimum deposit
  • Initiation fee: $100
  • Monthly fee sliding scale based on amount deposited

WNY Coalition Under 65 Pooled Trust (Trust #1) and Over 65 Pooled Trust (Trust #2)

  • Self-settled trust
  • Accepts lump sums without a minimum deposit
  • Initiation fee: $1,000
  • Annual commission:
    • $10.50 per thousand on the first $400,000
    • $ 4.50 per thousand on the next $600,000
    • $ 3.50 on the balance in the pooled trust
    • Plus additional annual commission by bank trustee
  • Semi-annual accounting fee: $6
  • Termination fee: 1% of all amounts paid out

WNY Coalition Friends and Family Trust

  • Third-party trust
  • Only 25% of balance remainder at the death of the beneficiary is retained by trustees. Remaining 75% can be directed to others.
  • $1,000 initiation fee
  • Annual commission:
    • $10.50 per thousand on the first $400,000
    • $ 4.50 per thousand on the next $600,000
    • $ 3.50 on the balance in the pooled trust
    • Plus additional annual commission by bank trustee
  • Semi-annual accounting fee: $6
  • Termination fee: 1% of all amounts paid out

Yes -  but only for Erie, Niagara, Cattaraugus, Chautauqua and Allegany Counties

Fee Schedule Income Only

YAI / National Institute for People with Disabilities
460 West 34th Street
New York, NY 10001-2382
http://www.yai.org/
(212) 563-7474
  • Serves DD/MR/MI/ Phys Disabled, TBI.
  • Minimum deposit $25,000 with some flexibility.
No

 


This article was authored by the Evelyn Frank Legal Resources Program of New York Legal Assistance Group.

NYLAG

Attached files
file SNTShort_2014 (Sept 2014).pdf (748 kb)
file SNT Outline 2013.pdf (515 kb)

Also read
document Overview - Supplemental Needs Trusts
document Step-by-step guide to enrolling in a pooled income trust for Medicaid spend-down
document Legal Authorities Relating to Supplemental Needs Trusts
document Medicaid Disability Determinations - NYS Forms & Procedures (with updated forms July 2012)
document Spousal Impoverishment Protections Required in Managed Long Term Care and other "Waiver" Programs - Even when detrimental to Consumer

Prev   Next
Advocate's Outline on Supplemental Needs Trusts     How to use a pooled SNT to eliminate the Medicaid spend-down.


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