1 Tex. Admin. Code § 358.336 - Treatment of Testamentary or Inter Vivos Trusts
(a) In this section, the following words have
the following meanings, unless the context clearly indicates otherwise.
(1) Testamentary trust--A trust established
by will.
(2) Inter vivos trust--A
trust established while the person creating the trust is still
living.
(b) Resources in
a testamentary or inter vivos trust are countable to a person if the person is
the trustee and has the legal right to revoke the trust and use the money for
the person's own benefit.
(1) If a person
does not have access to the trust, then the trust is not counted as a
resource.
(2) If a person's access
to a trust is restricted (that is, only the trustee (other than the person) or
the court may withdraw the principal), then the value of the trust as a
resource is not counted, even if:
(A) the
person's legal guardian is the trustee;
(B) the trust provides a regular, specified
payment to the person; or
(C) the
trust provides for discretionary withdrawals by the trustee.
(3) If a trust is not counted as a
resource, payments from the trust made to or for the benefit of the person may
be counted as income only if the payments would ordinarily be counted as income
in accordance with
20 C.F.R.
416.1102.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.