67:46:05:32.03.  Trusts excepted from consideration as a resource. Except for payments from the trust to the beneficiary or for the benefit of the beneficiary, § 67:46:05:32.02 does not apply to any of the following trusts:

          (1)  A Medicaid income trust created under the provisions of § 67:46:05:33.01;

          (2)  A trust containing the assets of an individual who is disabled and under age 65 if the trust is established for the benefit of the individual by a parent, grandparent, legal guardian of the individual, or a court and provides that upon the death of the individual and before any other distribution is made from the trust, the department shall receive all amounts remaining in the trust up to an amount equal to the total medical assistance paid on behalf of the individual; and

          (3)  A trust containing the assets of an individual who is disabled if the trust is established and managed by a nonprofit association. The association must maintain the individual's assets in a separate account but may pool the individual's account with others for purposes of investments and the management of funds. The accounts in the pool must be established solely for the benefit of individuals who are disabled and must be established by the individual, the individual's parent, grandparent, legal guardian, or by the court. The trust must provide that upon the death of the individual and before any other distribution is made from the trust, the department shall receive all amounts remaining in the trust up to an amount equal to the total medical assistance paid on behalf of the beneficiary.

          Source: 21 SDR 162, effective March 23, 1995.

          General Authority: SDCL 28-6-1.

          Law Implemented: SDCL 28-6-1.

          Cross-Reference: Determination of disability, § 67:46:03:18.