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Frequently Asked Questions

Purpose and organization of the Maine Pooled Disability Trust (MPDT)
1. What is the MPDT?
2. Who manages the MPDT?
3. How is the money in the Trust managed?

Joining the Maine Pooled Disability Trust
4. How can I join the MPDT?
5. Are there minimum and maximum contributions?
6. What kind of assets will the Trust accept?
7. After I have put money into the Trust, may I revoke my Joinder Agreement and remove all of my money?
8. How often will I receive a statement of my subaccount?

Disbursements from your Subaccount
9. What kinds of expenses can be paid from my subaccount?
10. How do I request a disbursement?
11. How long does it take for a request to be paid?

Distribution of subaccount balance at beneficiary's death
12. What happens to the subaccount money if the beneficiary dies?

Other
13. What fees does the Maine Pooled Disability Trust charge?
14. How do I contact the Maine Pooled Disability Trust?


Purpose and organization of the Maine Pooled Disability Trust (MPDT)
1. What is the MPDT?
It is a 501( c) (3) charitable irrevocable trust created by The Wardwell of Saco, Maine. Its purpose is to enable disabled people to retain assets, have the assets professionally managed by the Trust for their benefit while still qualifying for means-tested public benefits such as Medicaid and Supplemental Security Income.

2. Who manages the MPDT?
A board of five volunteer Trustees oversees Trust affairs. The Executive Director is responsible for day-to-day administration of Trust matters.

3. How is the money in the Trust managed?
Assets from individual subaccounts are pooled together to keep administrative costs low and increase investment options. The money in each beneficiary's subaccount is accounted for separately. Charter Trust Company of Concord, New Hampshire, is MPDT's investment manager, and the Trust's funds are currently held in a Biddeford Savings Bank account. The Trustees have the power to change the investment manager and/or type of investment at any time.

Joining the Maine Pooled Disability Trust
4. How can I join the MPDT?
The disabled individual, parent, grandparent, legal guardian or court may complete and submit a Sponsor Agreement. Forms are available at our website, or by calling the Trust office.

If the disabled individual receives or expects to receive Supplemental Security Income benefits, he or she must use the Sponsor Agreement for Trust II.

You may contact the Trust's Executive Director with questions about the documents.

The Trustees must vote to accept new subaccounts. The Trustees meet on the third Friday of each month.

5. Are there minimum and maximum contributions?
Minimum initial contribution is $5,000.00. Additions may be made at any time. There is no maximum contribution.

6. What kind of assets will the Trust accept?
Cash, publicly-traded stocks, bonds and mutual funds shares may be accepted at the Trustees' discretion. Any asset other than cash may be sold and converted to cash.

7. After I have put money into the Trust, may I revoke my Joinder Agreement and remove all of my money?
No. By law the Trust must be irrevocable.

8. How often will I receive a statement of my subaccount?
Statements are sent quarterly in January, April, July, and October, to the person designated in your Sponsor Agreement.

Disbursements from your Subaccount
9. What kinds of expenses can be paid from my subaccount?
Disbursements are made at the discretion of the Trustees. In general, the subaccount funds may be used for services and items which the beneficiary's public benefits are not intended to cover. Please see our website or call the Trust office for a sample list of such items.

All payments must be made to the vendor; the Trust cannot pay money directly to a beneficiary.

No payments can be made from a subaccount after the beneficiary's death, other than expenses of closing the subaccount.

Mortuary trust costs may, at the Trustees' discretion, be paid during the beneficiary's lifetime from Maine Pooled Disability Trust subaccounts. Such costs are not allowable in Trust II subaccounts.

10. How do I request a disbursement?
Disbursement Request forms are available at our website or by calling the Trust office. The beneficiary or other designated person should complete the form, attach a bill or receipt for the requested expense, and fax or mail to the Trust office.

11. How long does it take for a request to be paid?
Many requests can be paid within a week after the Trust office receives the request. Some requests must be approved by the Trustees at their monthly meeting (third Friday of each month). You may contact the Trust office with questions about a specific request.

Distribution of subaccount balance at beneficiary's death
12. What happens to the subaccount money if the beneficiary dies?
One-half of the balance is paid to the Maine Pooled Disability Trust for the benefit of other disabled people.

The other half of the balance must be used to reimburse the State of Maine for MaineCare benefits paid for the beneficiary. If there is money left in this half after MaineCare reimbursement, it will be paid as designated by the Sponsor in the Sponsor Agreement.

13. What fees does the Maine Pooled Disability Trust charge?
You may see a complete list of our fees by following this link.

14. How do I contact the Maine Pooled Disability Trust
You may contact us at:
P.O. Box 495
Kennebunkport, ME 04046-0495
Phone (207) 967-6072
Fax (207) 967-5698
jcook@mainepooleddisabilitytrust.org
P.O. Box 495
Kennebunkport, ME 04046-0495
Phone (207) 967-6072
Fax (207) 967-5698
Email
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