North Bay Housing Coalition

INCREASE AFFORDABLE HOUSING FOR INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES AND THEIR FAMILIES. MANAGE A POOLED SPECIAL NEED TRUST FOR BENEFIT OF CALIFORNIANS WITH DISABILITIES.

THE GOLDEN STATE POOLED TRUST (GSPT) WAS CREATED BY THE ORGANIZATION IN 2004. SINCE ITS INCEPTION, IT HAS GROWN TO SERVE OVER 500 BENEFICIARIES WITH A TOTAL TRUST CORPUS OF $22,271,252 AS OF 12/31/2021. IT PROVIDES BOTH RELIABLE ASSET MANAGEMENT AND CONTINUED ELIGIBILITY FOR GOVERNMENT BENEFITS, SUCH AS: SUPPLEMENTAL SECURITY INCOME (SSI), MEDI-CAL, AND IN HOME SUPPORT SERVICES.GSPT HOLDS PROCEEDS FROM A LAWSUIT OR INHERITANCE OR OTHER SOURCES WHICH IS CRITICALIF:1.SUDDEN AVAILABILITY OF FUNDS WILL PREVENT A DISABLED INDIVIDUAL FROM QUALIFYINGFOR ESSENTIAL PUBLIC BENEFITS.2.THE AWARD RECIPIENT REQUIRES ONGOING CARE OR ADVOCACY FOR AN EXTENDED PERIOD.3.THE AWARD WILL BE EXHAUSTED QUICKLY IN ORDER TO MEET MEDICAL EXPENSES WHICH WOULDOTHERWISE BE PAYABLE BY MEDI-CAL, AND THE RECIPIENT HAS NO OTHER MEANS OF SUPPORTTO MEET HIS OR HER NEEDS.POOLED SPECIAL NEEDS TRUSTS ARE AN EFFECTIVE MANAGEMENT TOOL FOR LITIGATION,UNEXPECTED INHERITANCES OR OTHER TYPES OF PROCEEDS WHEN PRESERVATION OF BENEFITS IS,OR IN THE FUTURE, MAY BE, ESSENTIAL TO THE WELL-BEING OF THE INDIVIDUAL.FUNDS HELD IN A PROPERLY DRAFTED POOLED SPECIAL NEEDS TRUST, SUCH AS THE GSPT, WILLNOT COUNT AS A RESOURCE FOR PURPOSES OF QUALIFYING FOR SSI, MEDI-CAL OR IN HOMESUPPORT SERVICES (IHSS).IT IS VERY IMPORTANT TO STRIKE A BALANCE BETWEEN THE NEED TO MAINTAIN PUBLIC BENEFITS AND THE BURDEN OF THE RESTRICTIONS INHERENT IN SPECIAL NEEDS TRUSTS. THE CHIEF RESTRICTION OF A SPECIAL NEEDS TRUST IS THAT THE DISABLED PERSON (THE "BENEFICIARY" OF THE TRUST) LOSES CONTROL OF THE FUNDS. MOREOVER, CASH CANNOT BE GIVEN DIRECTLY TO THE BENEFICIARY. INSTEAD THE TRUSTEE MUST PAY FOR THE SERVICES ANDGOODS DIRECTLY. THE BURDENSOMENESS OF THESE RESTRICTIONS CAN BE MINIMIZED WITH THEUSE OF TRUSTEES AND ADVISORS WHO ARE TRAINED AND EXPERIENCED IN MANAGING SPECIALNEEDS TRUSTS.GOLDEN STATE POOLED TRUST IS AN APPROPRIATE OPTION THAT CAN PROTECT THE LITIGATIONPROCEEDS IN ORDER TO PROVIDE FOR THE BENEFICIARY'S WELL-BEING, AS WELL AS PROVIDERELIABLE ASSET MANAGEMENT AND ADVOCACY FOR THE TRUST BENEFICIARY.