Sometimes, when a parent creates a third-party special needs trust, he or she does not want the entire burden of decision making to fall on the trustees. Or sometimes the trustees were chosen for their financial and investment savvy and background and they do not necessarily know how to handle the day-to-day life of the
third party trust
Who Can Set Up a Special Needs Trust?
By Mary Browning on
Posted in Special Needs Trusts
The answer depends on what type of Special Needs Trust – a Third Party Special Needs Trust or a First Party Trust.
A third party trust, that is created to hold assets of another person for the benefit of the person with special needs, can be set up by anyone who is over the age…