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1. Revocable Trust - A trust which can be revoked by the grantor or modified or terminated by petitioning the court. A trust which is called irrevocable but which terminates if some action is taken by the grantor is a revocable trust for purposes of this section. 2. Irrevocable Trust - A trust whose terms and provisions cannot be revoked or changed in any way by the grantor or any other party. 3. Special Needs Trust - A specific trust that meets all the following conditions: a. It was created on or after April 1, 1994, and b. It is created for the sole benefit of a disabled individual (as determined by SSA) under age 65, and Note: Sole benefit means that any real or personal property which is capable of being titled and is purchased by the trust must be titled solely in the name of the trust. c. It contains only the disabled individual’s assets/income (no assets or income of others may be commingled), and only after any Medicaid lien on funds recovered from third parties has been paid in full. (See MA-2400, Third Party Recovery regarding tort liability and assignment of rights to third party payments), and d. It is established for the disabled individual under age 65 by the parent, grandparent, legal guardian, court, or by the disabled individual. If the trust is established by the disabled individual , it must be established on and after December 13, 2016 to be a Special Needs Trust. Prior to the date, the trust will not be considered as a Special Needs Trust. e. It must contain a provision that states upon death of the individual or upon the termination of the trust for other reasons the State receives all amounts remaining in the Trust up to an amount equal to the total amount of medical assistance paid on behalf of the individual under the State Medicaid Plan, and f. If proceeds of a settlement on behalf of the Medicaid applicant/beneficiary are used to purchase structured settlement payments, annuities, or other forms of an income stream payable to the Trust over time, the Trust must remain the designated payee. There must be no alternate designated payee named in the contract for the payments until the Trust has been properly wound up and the State has been reimbursed. This ensures that all remaining Trust assets will be available to reimburse NC Medicaid upon the death of the individual or termination of the Trust for other reasons. The Special Needs trust resource exclusion continues after the individual reaches age 65. Any additions to the trust after the individual reaches age 79