Practice Areas
Blog 
General
- Panel Sparks Controversy Again with New Prostate Cancer Screening Guidelines
- Doctor Misdiagnoses Woman and Fails to Complete Full Examination; Woman Dies Days Later!
- Study Finds Hospital Acquired Infections Greatly Impact ICU Deaths
- Medical Malpractice and Res Ipsa Loquitur: An Explanation
- Medical Malpractice Liability and Nurses; Why Nurses are being sued More and More Often
News
Posted on 5/17/2012
Posted on 4/27/2012
Posted on 11/14/2011
Posted on 8/1/2011
Posted on 7/9/2011
Library
General
- Discover how you can win your lawsuit by taking Three Simple Steps in Kingston, New York
- How I learned a lesson in life from a shyster lawyer
- The Day My Hero Died
- Discover how you can get the special services for your disabled child in an Individualized Education Plan in Kingston, New York
- Discover how you can get top-notch health insurance for your family for less than $200 a month in Kingston, New York
What is the downside of a "pooled" supplemental needs trust in Kingston, New York?
A: A pooled supplemental needs trust is a way to provide the benefits of a supplemental needs trust for a disabled person without having to set up and administer a separate trust. The funds transferred into a pooled trust are "pooled" and invested by an investment manager. Pooled trusts can be a great option if the amount of money available to fund the trust is small or where there is no person willing to serve as trustee. However, there are significant downsides to a pooled supplemental needs trust.
What is the downside of a pooled supplemental needs trust?
Once you surrender your money to a pooled trust, you have no control over how it is spent or invested. A pooled trust is managed by a manager selected by the non-profit company that adminsters the trust and not by a friend or family member that has a personal relationship with the beneficiary. With a pooled trust, the non-profit company has control over the investments and disbursements.
The real downside of a pooled supplemental needs trust is that you do not have the close, personal relationship you will have with an individual trust created solely for your benefit. With a separate trust, you can name a friend or family member as a co-trustee with a trust company and this will ensure that your friend acting as the co-trustee will have input into investment and disbursement decisions.
With a separate trust, your funds are segregated from other trust accounts and you can monitor the investment performance of your trust. You do not have any control over investments or disbursements with a pooled supplemental needs trust.
What you can do to learn more about a pooled supplemental needs trust
In New York, pooled supplemental needs trusts are administered by NYSARC Trust Services based in Albany County (800-735-8924; info@nysarctrustservices.org). The pooled supplemental needs trust, known as the "Unrestricted Fund", requires a minimum initial deposit of $25,000, but NYSARC charges no commissions for investing the funds. A great person to speak with at NYSARC is Robert Mascali, who can answer all of your questions about the six types of trusts administered by NYSARC.
If you would like more information about pooled supplemental needs trusts from me, I welcome your phone call on my toll-free cell at 1-866-889-6882 or you can send me an e-mail at jfisher@mmolaw.net. You are always welcome to request a FREE copy of my book, The Seven Deadly Mistakes of Malpractice Victims, by sending me an e-mail with your name and address.
Free Book
The Seven Deadly Mistakes of Malpractice Victims
ONE BIG PROMISE
You will not be another of the 98,000 victims of medical malpractice in the United States in 2009 if you read my FREE BOOK. I have a book that will tell you why most victims of medical malpractice never recover a penny. If you are the victim of medical malpractice, we will rush this free, valuable information so you know what to do. If you don't call now, you have only yourself to blame.
You will never have to worry about medical malpractice again if you call this toll-free number, 866-889-6882, for your free book, The Seven Deadly Mistakes of Malpractice Victims, and an audio CD of the book, or you can request the book here and the book will be rushed to you immediately at no cost.
(New York residents only)
Connect With Us
Are we friends on Twitter and Facebook yet? I regularly post tips and advice about medical malpractice that I know you’ll enjoy. Click the links and let’s connect!
Free Case Evaluation
Begin your case review by filling out the form below or call us at 866.689.9692
John H. Fisher
130 North Front Street
Kingston, New York 12402-3058
Phone: 518.265.9131
Fax: 845-331-2004
Toll Free: 866.889.6882
Get Directions
Contact Info
John H. Fisher
130 North Front Street
Kingston, New York 12402-3058
Phone: 518.265.9131
Fax: 845-331-2004
Toll Free: 866.889.6882
Video Library
General:
- Personal Injury Attorney In New York Is Motivated By The Difference His Case Results Make In Peoples Lives
- How To Know Which Law Firm Is Right For You According To Medical Malpractice Attorney In New York
- Knowing You Are The Victim Of Medical Malpractice Can Be Tricky According To New York Attorney
FAQ
General
- What is the best way to reduce (or even eliminate) photocopy expenses in your law practice in Kingston, New York?
- Why you should never pay attention to lawyer advertisements when hiring a lawyer in Kingston, New York?
- What is the #1 way to defeat a subrogation claim against your injury compensation in New York?