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.


7 AAC 100.610
Eff. 7/20/2007, Register 183

Authority:AS 47.05.010

AS 47.07.020

AS 47.07.040

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