July 1, 2012: Illinois Administrative Code amended

Prior to the amendment, transfers of assets to pooled trusts managed by non-profit associations solely for the benefit of a disabled beneficiary who was of any age were considered transfers for fair market value.

Under the amended Administrative Code, a transfer to a pooled trust sub-account after age 65 (including further funding) is considered a transfer for LESS THAN fair market value, unless the person is considered a ward of the county or State.

READ MORE (via the Illinois Department of Health and Human Services)

Public Aid

(305 ILCS 5/) Illinois Public Aid Code

Article III: Aid to the Aged, Blind or Disabled

Department of Healthcare and Family Services

Section 120.347 Treatment of Trusts and Annuities 

Notice of Emergency Amendments