S.D. Admin. R. 67:12:05:10

Current through Register Vol. 51, page 67, December 16, 2024

Section 67:12:05:10 - Personal property held in trust considered a resource

The department shall consider personal property held in trust as a resource if the trust instrument is revocable, allows the administrator to sell property subject to the trust and use the proceeds to meet the needs of any member of the assistance unit, or allows the administrator to invade the principal and use the principal to meet the needs of any member of the assistance unit. The department shall deem a personal property trust created for the purpose of rendering an applicant, recipient, or dependent child eligible to receive public assistance to be a transfer resulting in ineligibility. The department shall account for income received from a trust of personal property in the same manner as any other income.

S.D. Admin. R. 67:12:05:10

SL 1975, ch 16, § 1; 4 SDR 10, effective 8/28/1977; 7 SDR 66, 7 SDR 89, effective 7/1/1981; 21 SDR 172, effective 4/3/1995.

General Authority: SDCL 28-7-2.

Law Implemented: SDCL 28-7-4.