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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. (Eff. 7/20/2007, Register 183) Statutory Authority: Authority: AS 47.05.010 AS 47.07.020 AS 47.07.040 7 AAC 100.612. Special needs trust. (a) To be approved by the department, a special needs trust must

(1) be established for the sole benefit of the applicant or recipient who is under 65 years of age and who is blind under 7 AAC 40.140(a) or disabled under 7 AAC 40.170(a);

(2) consist exclusively of the income and resources of the applicant or recipient;

(3) be irrevocable;

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

(5) provide for reimbursement to the state under 7 AAC 100.608. (b) The asset protection offered by a special needs trust continues after the applicant or recipient reaches 65 years of age, but the trust may not receive any additional income or resources after the applicant or recipient reaches 65 years of age. The trust may continue to receive income or resources from the same source, or its successor, from where it received income before the applicant or recipient reached 65 years of age, including any increase in the