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WAC 182-516-0140 Third-party trusts
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WAC 182-516-0140 Third-party trusts.
Effective March 2, 2018
- This section governs third-party trust as defined under WAC 182-516-0001.
- A trust containing the assets of a beneficiary's spouse may be a self-settled trust based on the date it was established. For specific rules regarding this, see WAC 182-516-0130.
- A testamentary trust is a third-party trust created by a will where the trust is in the will and the estate is the grantor.
- There is no requirement for a state to be named as a remainder beneficiary in third-party trusts.
- If the beneficiary has the power to acquire the assets from the third-party trust, the trust is an available resource.
- If the beneficiary has no power to access or control trust assets or distributions, as described under WAC 182-516-0105(4), a third-party trust is not an available resource.
This is a reprint of the official rule as published by the Office of the Code Reviser. If there are previous versions of this rule, they can be found using the Legislative Search page.