Page 170

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

170 4. Revocable Trusts are considered as follows: a. The corpus of the trust shall be considered resources available to the individual, b. Payments from the trust to or for the benefit of the individual shall be considered income to the individual, and c. Any other payments from the trust shall be considered assets transferred by the individual for less than fair market value and are subject to a 60 month look back period and a penalty period of ineligibility as set forth in the regulations on transfers without fair consideration in this volume. 5. Irrevocable Trusts If there are any circumstances under which payments from the trust could be made to or for the benefit of the individual, the following shall apply: a) The portion of the corpus of the trust, or the income on the corpus, from which payment to the individual could be made, shall be considered as resources available to the individual. b) Payments from that portion of the corpus, or income to or for the benefit of the individual, shall be considered income to the individual. c) Payments from that portion of the corpus or income for any other purpose shall be considered as a transfer of assets by the individual for less than fair market value and are subject to a 60 month look back period and a penalty period of ineligibility as set forth in the regulations on transfers without fair consideration in this volume. d) Any portion of the trust or income on the corpus from which no payment could be made to the individual under any circumstances shall be considered as a transfer of assets for less than fair market value and shall be subject to a 60 month look back period and penalty period of ineligibility as set forth in the regulations on transfers without fair consideration in this volume. The transfer will be effective as of the date of the establishment of the trust, or the date on which payment to the individual from the trust was