What is one responsibility that a beneficiary cannot perform regarding a third-party self-settled trust?

A beneficiary of a third-party self-settled trust has certain limitations in terms of managing the trust and accessing its benefits. The responsibility of modifying the trust's provisions typically falls outside the authority of the beneficiary. This is because the terms of the trust are legally binding and established by the trust creator (also known as the grantor or settlor), and any modifications would generally require the consent of the trustee and sometimes the court, depending on the jurisdiction and the specific terms set forth in the trust document.

In these trusts, the grantor seeks to provide benefits to the beneficiary while protecting the trust assets from the beneficiary's direct control. Allowing a beneficiary to modify the trust's provisions could undermine the very purpose for which the trust was established, potentially giving the beneficiary excessive control over assets that should be managed for their benefit by a trustee. Thus, this option accurately reflects a significant responsibility that a beneficiary cannot perform, ensuring that the trust operates as intended by the grantor.