Insurer or similar body licensed and approved to do business in the jurisdiction in which the annuity is established. The beneficiary can also be called the grantee. The beneficiary and the grantor may be the same person. Designated for medical expenses means the trustee may use the trust to pay the medical expenses of the beneficiary. The amount of the trust that is designated for medical expenses is considered an available resource to the beneficiary.
Payments are a third party resource.
Disbursement or distribution means any payment from the principal or proceeds of a trust, annuity, or life estate to the beneficiary or to someone on their behalf. Exculpatory clause means there is some language in the trust that legally limits the authority of the trustee to distribute funds from a trust if the distribution would jeopardize eligibility for government programs including Medicaid. Grantor means an individual who uses his assets or funds to create a trust. The grantor may also be the beneficiary. Income beneficiary means the person receiving the payments may only get the proceeds of the trust.