Do Self-Settled Trusts and Third Party Trusts Work In The Same Way During the Beneficiary’s Lifetime?
Although each type of trust has different requirements, both trusts work the same way. The disabled person is the beneficiary but the management and control of the trust is held by another person called the trustee. The trustee’s job is to pay for special needs while maintaining the beneficiary’s eligibility for public benefits. The beneficiary does not have direct use of the trust assets. Instead, the trustee has total discretion as to payments for any needs.
