1110.020.45 Trusts and Inaccessible Resources – DSS Manuals

IM-14 February 23, 2007

Exempt inaccessible resources such as irrevocable trust funds, property in probate, notes receivable that cannot be easily and quickly liquidated, security deposits on rental property and utilities.

Consider funds in a trust or restricted account or funds transferred to a trust and any income produced by that trust to the extent it is not available to the EU as inaccessible if all the following criteria are met.

The trust arrangement is not likely to cease during the certification period and no EU member has the power to revoke the trust arrangement or change the name of the beneficiary.

The trustee administering the funds is either: a court, institution, corporation, or organization not under the direction or ownership of any EU member; or a court-appointed individual and the court has imposed limitations placed on the use of funds in trust.

Trust investments made on behalf of the trust do not directly involve or assist any business or corporation under the control, direction, or influence of an EU member. AND

The funds held in irrevocable trust are either: established from the EU’s own funds, if the trustee uses the funds solely to make investments on behalf of the trust or to pay the educational or medical expenses of any person named by the EU creating the trust; or established from non-EU funds by a non-EU member.

Approve or deny applications involving a trust fund or restricted account, even if availability is questionable, within 30 days from the date of application.

Enter the resource as it would normally be entered on the Liquid Resources (FMW0) screen, and enter an “N” in the Access (Y/N) field.

Always review the Financial Resource Detail Summary (FMWG) screen prior to authorizing a case action to ensure resources you expect to be excluded are excluded in the determination. From the Action Authorization (FM3H) screen, press F15=RESOURCE to view the Financial Resource Detail Summary (FMWG) screen. If the resource is incorrect, select the resource and press F6=DETAILS to return to the appropriate screen and correct the inaccurate information.