New Mexico Administrative Code
Title 8 - SOCIAL SERVICES
Chapter 281 - MEDICAID ELIGIBILITY - INSTITUTIONAL CARE (CATEGORIES 081, 083 AND 084)
Part 510 - TRUST STANDARDS
Section 8.281.510.15 - EXCLUDED ASSETS PLACED IN A TRUST

Universal Citation: 8 NM Admin Code 8.281.510.15

Current through Register Vol. 35, No. 18, September 24, 2024

Placement of excluded assets in a trust, with the exception of a home, shall not result in a penalty of ineligibility because the transferred asset is not an asset for transfer purposes. However, a home, whether excluded or not, when transferred into a trust shall be considered a resource unless:

A. the trust is for the sole benefit for the applicant/recipient's spouse; or

B. was transferred to a trust that is in compliance with Subsections B or D of 8.281.510.11 NMAC that is established for the sole benefit of the applicant/recipient's disabled child, or

C. was transferred to a trust that is in compliance with Subsection B or D of 8.281.510.11 NMAC that is established solely for the benefit of an individual who is under 65 years of age and who is disabled.

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