TRUSTS (RESOURCE) (FAM)

___________________________________________________________

Trusts or similar legal devices contain funds held in trust for the benefit of an assistance group member. A similar legal device may or may not qualify under state law as a trust.

Treatment of trusts as a resource differs depending on the nature of the trust, when the trust was established and by whom, and whose assets were used to establish the trust.

All trusts must be forwarded to State Office for a trust review. State Office will determine whether the trust is countable as a resource, or any disbursements are countable as income.

See Special Needs Trusts, Trusts Using the Assets of the Individual or Spouse and Trusts Using the Assets of Other Parties.

References: He-W 601.07; He-W 656.04