Page 178

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

178 q) Prior to the establishment or funding of a disability trust, the trust shall be submitted for review to the Department, along with proof that the individual beneficiary is disabled according to Social Security criteria. No disability trust shall be valid unless the Department has reviewed the trust and determined that the trust conforms to the requirements of Section 15-14-412.8, C.R.S., as amended, and any rules adopted by the Medical Services Board.. c. Pooled Trusts i) A trust consisting of individual accounts established for disabled individuals for the purpose of establishing resource eligibility for Medical Assistance. A valid pooled trust shall meet the following criteria: a) The individual for whom the trust is established must meet the disability criteria of Social Security. b) The trust is established and managed by a non-profit association which has been approved by the Internal Revenue Service. c) A separate account is maintained for each beneficiary; however, the trust pools the accounts for the purposes of investment and management of the funds. d) The sole lifetime beneficiaries of each trust account are the individual for whom the trust is established and the Department. e) If the trust is funded with an annuity or other periodic payments, the Department or the pooled trust shall be named as remainder beneficiary. f) The trust account shall be established by the disabled individual, parent, grandparent, legal guardian, or the court.