WAC 182-516-0140 Third-party trusts
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.