Page 180

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

180 ii) If an institutionalized individual for whom a pooled trust is established is 65 years of age or older, the transfer of assets into the pooled trust creates a rebuttable resumption that the assets were transferred without fair consideration and shall be analyzed in accordance with the rules on transfers without fair consideration in this volume. This regulation is effective for transfers to pooled trusts after January 1, 2001. iii) When the individual beneficiary of an income, disability, or pooled trust dies or the trust is terminated, the trustee shall promptly notify the eligibility site and the Department. To the extent required by these rules the trustee shall promptly forward the remainder of the trust property to the Department, up to the amount of Medical Assistance paid on behalf of the individual beneficiary. d. Third Party Trusts i) Third party trusts are trusts which are established with assets which are contributed by individuals other than the applicant/member or the applicant/member's spouse for the benefit of an applicant/member. ii) The terms of the trust will determine whether the trust fund is countable as a resource or income for Medical Assistance eligibility. iii) Trusts which limit distributions to non-support or supplemental needs will not be considered as a countable resource. If distributions are made for income or resources, such distributions are countable as such for eligibility.

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Page 180

Official source

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

180 ii) If an institutionalized individual for whom a pooled trust is established is 65 years of age or older, the transfer of assets into the pooled trust creates a rebuttable resumption that the assets were transferred without fair consideration and shall be analyzed in accordance with the rules on transfers without fair consideration in this volume. This regulation is effective for transfers to pooled trusts after January 1, 2001. iii) When the individual beneficiary of an income, disability, or pooled trust dies or the trust is terminated, the trustee shall promptly notify the eligibility site and the Department. To the extent required by these rules the trustee shall promptly forward the remainder of the trust property to the Department, up to the amount of Medical Assistance paid on behalf of the individual beneficiary. d. Third Party Trusts i) Third party trusts are trusts which are established with assets which are contributed by individuals other than the applicant/member or the applicant/member's spouse for the benefit of an applicant/member. ii) The terms of the trust will determine whether the trust fund is countable as a resource or income for Medical Assistance eligibility. iii) Trusts which limit distributions to non-support or supplemental needs will not be considered as a countable resource. If distributions are made for income or resources, such distributions are countable as such for eligibility.