Common use of REMAINDER BENEFICIARIES NAMED Clause in Contracts

REMAINDER BENEFICIARIES NAMED. This trust shall cease and terminate at the death of the beneficiary, or earlier if the trustee determines that the existence of the trust is no longer necessary to establish or maintain Medicaid eligibility for the beneficiary. Upon the termination of this trust, the remaining trust property shall be distributed as follows: a. To any State that may have provided the life beneficiary with medical assistance up to an amount equal to the total medical assistance paid on behalf of the life beneficiary by a state plan for Medicaid assistance or through an approved waiver program; this provision is intended to meet the requirements of 42 USC 1396p as amended by OBRA ’93; and b. Any remainder after the state’s claim has been paid shall pass outside of probate to those residuary beneficiaries named in the beneficiary’s will or trust; however, if the beneficiary leaves no will or trust, then the remainder shall be distributed outside of probate to those heirs as determined by the Oregon law of intestate succession.