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65 must be evaluated for a transfer of assets. 4. Pooled Trust - A type of Special Needs trust that combines funds of more than one disabled individual for investment and management purposes. A Pooled Trust can be created for a disabled individual of any age and is excluded from resources. A Pooled Trust must meet all of the following requirements to be excluded as a Transfer of Assets. a. It was created on or after April 1, 1994, and b. It was created for the sole benefit of a disabled individual (as determined by SSA) and c. It is established by the disabled individual, his parent, grandparent, legal guardian, or by a court, and d. It is managed by a non-profit association with a separate account maintained for each beneficiary, and e. It contains a provision that upon the death of the beneficiary the State will receive all amounts remaining in the beneficiary’s account not retained by the trust up to the total amount that Medicaid paid on behalf of the individual. If the Pooled Trust is created for an individual under age 65, and meets the above requirements, do not evaluate for a Transfer of Assets. Pooled Trusts created on or after July 1, 2026, for an individual age 65 and older do not need to be evaluated for a Transfer of Assets. Any additions to a Pooled Trust made on or after July 1, 2026, for an individual age 65 and older are not evaluated for a Transfer of Assets. NOTE: Creation of or additions to Pooled Trusts made prior to July 1, 2026, for an individual age 65 and older must still be evaluated for a transfer of assets. D. Terms of the Trust The terms specify what portion of the principal is available and what disbursements can be made from the trust. Common terms: 1. Discretion of the trustee - This term allows the trustee to decide what portion (up to the entire amount) of the principal of the trust he will make available to the beneficiary. 2. Full discretion - This term allows the trustee to disburse up to the entire amount of the trust to the beneficiary. 80