Trust Funds Excluded

Trust funds are excluded if all conditions listed below are met: (7-1-24) 01. Trust Irrevocable or Not Changeable by Household. The household must be unable to revoke the trust agreement or change the name of the beneficiary during the certification period. (7-1-24) 02. Trust Unlikely to End During Certification. The trust arrangement must be unlikely to end during the certification period. (7-1-24) 03. Trustee Independent from Household Control. The trustee of the fund is either a court, institution, corporation, or organization not under the direction or ownership of a household member, or a court- appointed person who has court-imposed limits placed on the use of funds. (7-1-24) 04. Trust Not Under Control of Household-Directed Business. The trust investments do not directly involve or help any business or corporation under the control, direction, or influence of a household member. (7-1-24) 05. Origin and Use of Trust. The funds held in an irrevocable trust are: (7-1-24) a. Set up from the household’s own funds. The trustee uses the funds only to make investments for the trust, or to pay education or medical expenses of the beneficiary; or (7-1-24) b. Set up from nonhousehold funds by a nonhousehold member. (7-1-24)