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POOLED TRUST PROGRAMS AT THE GOLDEN STATE POOLED TRUST |
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The GSPT Self-Settled Trust |
The GSPT Third Party Pooled Trust |
The GSPT Self-Settled Trust for Court Monitored Cases |
The GSPT Medicare Set-Aside (MSA) |
| Source of funds |
Assets belonging to the person with the disability. |
Assets belonging to someone other than the person with the disability; this can be a relative, friend, or some other source that is not the beneficiary. |
Assets belonging to the person with the disability; associated with a court monitored case |
A portion of an injury or worker’s compensation settlement |
| Who can create the trust? |
Beneficiary, parent, grandparent, legal guardian, or court |
Anyone except the beneficiary |
Beneficiary, parent, grandparent, legal guardian, or court; trust is required by court order |
Beneficiary, parent, grandparent, legal guardian, or court |
| Sample funding sources |
Inheritance, court settlement, disability backpay from Social Security |
Inheritance, gift |
Inheritance, court settlement |
Personal injury settlement, worker’s compensation settlement |
| What can funds be used for? |
Supplemental needs that enhance the beneficiary’s quality of life |
Future expenses related to the beneficiary’s injury |
| Other restrictions |
The assets can only be used for the sole benefit of the individual with a disability |
The assets can only be used for the sole benefit of the individual with a disability; initial seed amount must be at least $25,000 |
| GSPT fees |
One time enrollment fee: $1,500 / Annual trust administration fee: $1,500 or 1.5% — whichever is greater |
For more information regarding MSA fees, please contact GSPT. |
| True Link Financial Fees |
The annual rate for the investment advisory fee is 0.65%, which is prorated monthly and based on the average daily balance of the sub-account for that month.
Annual Tax Document/Letter Fee: $50
**Note: The Golden State Pooled Trust is not responsible for personal tax preparation or tax return filings. The annual pooled trust tax document/letter fee is subject to change. Please consult with your tax professional for any advice and/or questions related to your tax information letter and personal tax return. |
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| Remainder interest |
Subject to liens |
Grantor decides who the remainder beneficiary is; no payback required to a government entity |
Subject to liens |
Subject to liens |
