Third Party Trusts

Allows family and friends to fund a loved one’s future.

Third Party Trust (also known as a Common Law Trust) is funded by the beneficiary’s family and/or friends, rather than the beneficiary themselves. It can be funded either during their lifetime and/or through an estate plan.
Any person other than the beneficiary can fund this trust during their lifetime and/or through their estate plans.

Family and friends of an individual with a disability can gain peace of mind by providing for their loved one while still preserving the individual’s eligibility for essential, lifelong supports and services. Funds remaining at the death of the beneficiary are distributed according to the trust document to other individuals and/or organizations.

  • Experts at Achieva Family Trust add valuable social service expertise to the traditional role of a corporate trustee.
  • Family and friends can fund the Third Party Trust during their lifetimes and/or through their estate plans.
  • The Third Party Trust can be flexible and can benefit additional family members or friends.
  • When the beneficiary passes, any remaining money is distributed according to the terms of the trust agreement to other family members, friends, charities, etc.
  • First, we'd encourage you to contact us to better learn how to get started opening a Third Party Trust.
  • Then, if you are opening a Third Party Trust, you'll start by contacting an attorney familiar with drafting special needs trusts. You can start by looking at our Attorney List.
  • If you want to dig deeper, you can review the Common Law Trust Sample Language.

Resources

Third Party Trust Fact Sheet

This Third Party Trust fact sheet can help you determine if a Third Party Trust is right for you. It covers what a Third Party Trust is, the advantages of a Third Party Trust.

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PA Attorneys Familiar With Special Needs Trusts

List of PA attorneys familiar with special needs trusts.

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Sample Third Party Special Needs Trust Document

This sample document shows what a special needs trust document looks like.

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Do you have questions or want more information? Get in touch with us.

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