7 AAC 100.610 - Qualifying income trust

To be approved by the department, a qualifying income trust

(1) must consist exclusively of income to the applicant or recipient, including accumulated interest;

(2) must be irrevocable;

(3) may not contain an asset other than income;

(4) must terminate upon a court order or the death of the recipient, whichever is earlier; and

(5) must provide for reimbursement to the state under 7 AAC 100.608.

Notes

7 AAC 100.610

Eff. 7/20/2007, Register 183

Authority:AS 47.05.010

AS 47.07.020

AS 47.07.040