Trust Termination. At the Beneficiary's death, the account shall be terminated and distributed as follows: (1) payment of any taxes due from the trust to the State of Alabama or any other state or the federal government because of the death of the Beneficiary; (2) payment of reasonable fees for administration of the trust such as an accounting of the trust to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the trust; (3) retention of 10 percent to AFT Corporation for the AFT Charitable Trust; (4) reimbursement to the State of Alabama or to any other state, the District of Columbia or any other commonwealth, territory, or jurisdiction of the United States for medical assistance paid on behalf of the Beneficiary under the plan of the respective jurisdiction; and (5) payment of the balance, if any, to remainder beneficiaries. If the AFT account is terminated for any reason other than death, the account shall be terminated and distributed as follows: (1) payment of reasonable fees for administration of the trust such as an accounting of the trust to a court, completion and filing of documents, or other required actions associated with termination and wrapping up of the trust; (2) reimbursement to the State of Alabama or to any other state, the District of Columbia, or any other commonwealth, territory, or jurisdiction of the United States, for medical assistance paid on behalf of the Beneficiary under the plan of the respective jurisdiction; and (3)payment of the balance, if any, to the Beneficiary.
Appears in 5 contracts
Samples: Medicaid Payback Trust Agreement, Medicaid Payback Trust Agreement, Medicaid Payback Trust Agreement
