F-520.4 Special Needs Trust The trust must be irrevocable and must contain the assets of an individual under age 65 who is disabled and which trust is established for the sole benefit of the disabled individual by the disabled individual, a parent, grandparent, legal guardian of the disabled individual, or a court (effective with special needs trusts established on or after 12/13/2016), or prior to 12/13/2016 by a parent, grandparent, legal guardian of the disabled individual, or a court. In addition to the assets of the individual, the trust may also contain the assets of individuals other than the disabled individual. The trust must specify that upon the death of the disabled individual, the state receive all amounts remaining in the trust up to an amount equal to the total amount of medical assistance paid on behalf of the disabled individual. If the trust meets all the above requirements, the corpus of the trust is not considered available when determining resource eligibility. However, any liquid funds, e.g., cash paid out of the trust that are used for items other than the supplemental or special needs of the individual, are considered income in the month paid out for financial eligibility and patient liability.
Nevada, Division of Welfare and Supportive Services, F-520.1, Treatment of Trusts.