DISPOSITION OF TRUST ACCOUNT UPON THE DEATH OF A DESIGNATED BENEFICIARY Sample Clauses

DISPOSITION OF TRUST ACCOUNT UPON THE DEATH OF A DESIGNATED BENEFICIARY. 6.1 After the payment of permissible administrative expenses such as reasonable fees for administration of the Trust Account such as an accounting of the Trust Account to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the Trust Account, to the extent that amounts remaining in the individual’s account are not retained by the trust and credited to a Remainder Sub-Trust Account, upon the death of the individual, the state will receive all such remaining amounts up to the total value of all medical assistance paid on behalf of such individual. A Remainder Sub-Trust Account shall be defined as an account consisting of any amounts remaining in any deceased beneficiary’s account. Amounts in the Remainder Sub-Trust Account may be used for the purpose of providing direct supplemental needs assistance to any individual who is disabled pursuant to Social Security Law Section 1614(a)(3) [42 USC 1382c(a)(3)], whether or not such individual is a current beneficiary of the Trust. Amounts in the Remainder Sub•Trust Account shall also be available to the Trustees for the purpose of providing indirect supplemental needs assistance to or on behalf of individuals with disabilities. Such indirect expenditure(s) may consist of, but are not limited to, education, training, advocacy, and such other incidental services or products which meet the need(s) of any current or potential Beneficiary of the Trust or has the effect of heightening the awareness of the general community to the special needs of individuals with disabilities, or distributions to any other 501 (c) (3) organization that provides any of the above services for the benefit of individuals with disabilities. Amounts in the Remainder Sub-Trust Account shall also be available to the Trustee to meet any administrative and/or operating expenses incurred by the Trust. To the extent that amounts remaining in a Beneficiary's account upon the death of the Beneficiary are not retained by the Trust and credited to the Remainder Sub-Trust Account, to be used in furtherance of the purpose of the Trust, the Trust shall pay to the States from such deceased Beneficiary's account any remaining amounts equal to the total amount of medical assistance paid on behalf of the Designated Beneficiary under the State Medicaid plan pursuant to 42 USCS §§ 1396 et seq.
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DISPOSITION OF TRUST ACCOUNT UPON THE DEATH OF A DESIGNATED BENEFICIARY. After the payment of a beneficiary’s estate administration expenses attributable to the Trust (including taxes and attorney’s fees) and reimbursement for income taxes, the remaining balance of the Trust Account shall be credited to the Trust’s “Remainder Trust Account” which amount may be used for the purpose of providing direct supplemental needs assistance to any individual who is disabled pursuant to Social Security Law Section 1614(a)(3) [42 USC 1382c(a)(3)], whether or not such individual is a current Designated Beneficiary of a Trust Account. Amounts in the Remainder Trust Account shall also be available to the Trustees for the purpose of providing indirect supplemental needs assistance to or on behalf of individuals with disabilities. Amounts in the Remainder Trust Account shall also be available to the Trustee to meet administrative and/or operating expenses incurred by the Trust. To the extent that amounts remaining in a Designated Beneficiary's account upon the death of the Designated Beneficiary are not retained by the Trust and credited to the Remainder Trust Account, to be used in furtherance of the purpose of the Trust, the Trust shall first pay to the States from such deceased Designated Beneficiary’s Trust Account any remaining amounts equal to the total amount of medical assistance paid on behalf of the Designated Beneficiary under the State plans pursuant to 42 USCS §§ 1396 et seq and shall then pay the balance in accordance with the applicable Sponsorship Agreement and any applicable court order. .
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DISPOSITION OF TRUST ACCOUNT UPON THE DEATH OF A DESIGNATED BENEFICIARY. After the payment of permissible administrative expenses such as (a) taxes due to the State(s) or Federal government because of the death of the Beneficiary and (b) reasonable fees for administration of the Trust Account such as an accounting of the Trust Account to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the Trust Account, the remaining balance of the Trust Account shall be credited to the “Remainder Account” which amount may be used for the purpose of (a) providing direct supplemental needs assistance to any individual who is disabled pursuant to Social Security Law Section 1614(a)(3) [42 USC 1382c(a)(3)], whether or not such individual is a current beneficiary of the Trust, (b) providing indirect supplemental needs assistance to or on behalf of individuals with disabilities and (c) meeting the administrative and/or operating expenses incurred by the Trust. To the extent that amounts remaining in a Beneficiary's account upon the death of the Beneficiary are not retained by the Trust and credited to the Remainder Account, to be used in furtherance of the purpose of the Trust, the Trust shall pay to the States from such deceased Beneficiary’s account any remaining amounts equal to the total amount of medical assistance paid on behalf of the Designated Beneficiary under the State plan pursuant to 42 USCS §§ 1396 et seq.
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DISPOSITION OF TRUST ACCOUNT UPON THE DEATH OF A DESIGNATED BENEFICIARY. After the payment of permissible administrative expenses such as (a) taxes due to the State(s) or Federal government because of the death of the Designated Beneficiary and (b) reasonable fees for administration of the Trust Account such as an accounting of the Trust Account to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the Trust Account, the remaining balance of the Trust Account shall be credited to the “Remainder Sub-Trust Account” which amount may be used for the purpose of providing direct supplemental needs assistance to any individual who is disabled pursuant to Social Security Law Section 1614(a)(3) [42 USC 1382c(a)(3)], whether or not such individual is a current beneficiary of the Trust. Amounts in the Remainder Sub-Trust Account shall also be available to the Trustees for the purpose of providing indirect supplemental needs assistance to or on behalf of individuals with disabilities. Amounts in the Remainder Sub-Trust Account shall also be available to the Trustee to meet any administrative and/or operating expenses incurred by the Trust. To the extent that amounts remaining in a Designated Beneficiary's account upon the death of the Designated Beneficiary are not retained by the Trust and credited to the Remainder Sub-Trust Account, to be used in furtherance of the purpose of the Trust, the Trust shall pay to the States from such deceased Designated Beneficiary’s account any remaining amounts equal to the total amount of medical assistance paid on behalf of the Designated Beneficiary under the State plan pursuant to 42 USCS §§ 1396 et seq.
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