Hawaii Administrative Rules
Title 17 - DEPARTMENT OF HUMAN SERVICES
Department of Human Services
Chapter 1725.1 - ASSETS FOR MAGI-EXCEPTED INDIVIDUALS
Subchapter 3 - ASSETS TO BE CONSIDERED
Section 17-1725.1-18 - Treatment of trusts established after August 10, 1993
Universal Citation: HI Admin Rules 17-1725.1-18
Current through August, 2024
(a) An individual shall be considered to have established a trust if assets of the individual form all or part of the corpus of the trust and if the trust was formed other than by a will by any of the following:
(1) The individual;
(2) The individual's spouse;
(3) A person, including a court or
administrative body, with legal authority to act on behalf of the individual or
the individual's spouse; or
(4) A
person, including a court or administrative body, acting at the direction of
the individual or the individual's spouse.
(b) If a trust contains assets of persons other than the individual, only the portion of the trust that contains the assets of the individual will be considered in this section.
(c) The treatment of trusts in this section will be made without regard to:
(1) The
purpose for which the trust was established;
(2) Whether the trustees have or exercise any
discretion under the trust;
(3) Any
restrictions on when or whether distributions can be made from the trust;
or
(4) Any restrictions on the use
of distributions from the trust.
(d) In the case of a revocable trust the following shall apply:
(1) The corpus of the
trust is considered an available asset;
(2) Payments from the trust to or for the
benefit of the individual shall be considered income of the individual;
and
(3) Any other payments from the
trust shall be considered assets disposed and subject to the provisions of
subchapter 7.
(e) In the case of irrevocable trusts the following apply:
(1) If payments could be made to or for the
benefit of the individual, the portion of the corpus from which the payment
could be made is considered an available asset;
(2) If payments could be made to or for the
benefit of the individual, the income on the corpus from which the payment
could be made is considered an available asset;
(3) The payments in paragraphs (1) and (2)
from the corpus or from the income on the corpus is considered income to the
individual; and
(4) The portion of
the corpus from which no payments could be made to or on behalf of the
individual is considered assets disposed and subject to the provisions of
subchapter 7.
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