CCT administers the following types of trusts:
- Third-Party Pooled Special Needs Trust – A trust established by a third party, usually a parent, grandparent, relative or friend for the benefit of a loved one with special needs.
- First-Party Pooled Special Needs Trust – A trust established with the Beneficiary’s own funds with the Grantor being the beneficiary, parent(s), grandparent(s), Guardian, Conservator or the court.
- Military Survivor Benefit Plan Special Needs Trust – A trust established by a parent who is a military member or retiree for the benefit of his or her dependent child with special needs and funded by annuity payments from a Military Survivor Benefit Plan. This trust is also a first-party pooled special needs trust.
The trusts differ in whose assets are funding the trust. All trusts are administered by CCT in a similar manner. Many Beneficiaries have both a third-party and first-party trust with CCT. For Medicaid recipients, a major difference between a first-party and third-party trust is how the remainder is handled when the Beneficiary who received Medicaid passes away.
See What happens to the remainder when the Beneficiary passes away?
For Remainder Policy for Third-Party Pooled Special Needs Trust
For Remainder Policy for First-Party Pooled Special Needs Trust