Q. If I create a Master Pooled Trust for my child with a disability, can others contribute money to it?
A. Yes. A Master Pooled Trust (“MPT”) is a special needs trust administered by a non-profit organization such as the Arc Minnesota. Its essential purpose is to enhance the quality of an individual’s life while keeping the beneficiary eligibility for public benefits. Once an MPT is established for a beneficiary with a disability, others such as grandparents, friends or other relatives, etc. can add funds to the trust account now or at any time in the future. The trust can also receive proceeds from life insurance, a retirement account, a will or other sources.
For more information about the Arc Minnesota Master Pooled Trust, please visit our website at arcminnesota.org/master-pooled-trust or contact the trust department at 952.920.0855 or MPT@arcminnesota.org.