First Party Funded Master Pooled Asset Special Needs Trust

The First Party Funded “Self-Settled” or (d)(4)(c) Trust is for individuals who are disabled, on public assistance such as Medicaid or SSI and have excess resources that need to be spent down in order to maintain these benefits. Beagle & Associates of Washington (B&A WA) has created a Trust that complies with the rules and laws in both Oregon and Washington, allowing individuals who are on benefits to qualify for benefits within the state they reside. B&A WA is provided authorization to “pool” these funds together with multiple beneficiaries’ funds, but still manage those funds individually.

First Party Funded Trust:

  • Subject to Medicaid approval and notice
  • Can be created by beneficiary, guardian of beneficiary, Court or parents
  • Medicaid Payback provisions on death or termination of trust
  • Income taxable to beneficiary

 Why Choose A First Party Pooled Trust:

  • Managed by a non-profit organization
  • Professional experience and knowledge of public benefits
  • Expertise working with individuals with disabilities
  • Objectivity and professionalism when evaluating the financial needs of the beneficiary
  • Low administrative costs versus stand-alone Special Needs Trust
  • Greater investment opportunities

 A First Party Pooled SNT can be set up through:

  • Inheritance
  • Back-payments of Social Security
  • Gifts
  • Settlements/Personal Injury
  • Medical Malpractice
  • Divorce
  • Liquidation of personal assets
  • Sale of home
  • Excess resources
  • Employment wages

B&A WA has created a Master Trust Agreement, along with a Subscription Agreement (also known as the “Joinder Agreement”) allowing individuals an inexpensive and alternate route for distributing excess resources without losing valuable benefits and without having to create a stand-alone Special Needs Trust. Once funds are held in the Trust, funds can be distributed for:

  • Recreation: vacation, companionship services, entertainment, pets, cable TV, subscriptions
  • Medical Care (not covered by benefits): dental, glasses, hearing aids, massage, co-pays, vitamins/supplements, hair care, personal supplies
  • Household: home purchase, maintenance, clothing, telephone, appliances, furniture, insurance, accessibility upgrades
  • Transportation: public services, vehicle, auto insurance, gas, vehicle maintenance
  • Education: public/private, training, computer/software, books, vocational training
  • Services: attorney/accountant fees, alternative therapies, conservator/guardian fees, burial plan

Because the fiduciaries at B&A WA have strong backgrounds in both financial management and human services, B&A WA can be there every step of the way. B&A WA can ensure that the beneficiary of a Pooled Trust will receive the same standard of service while maintaining costs and ensuring the maximum benefit from the funds invested on the beneficiary’s behalf.


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