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Trusts: Similar Legal Devices (SLD)
SLDs are to be treated as trusts for purposes of establishing initial and ongoing eligibility for Medi-Cal. Refer to Treatment of Trusts for treatment of trusts and annuities.
SLD is defined as any legal instrument, device or arrangement that involves the transfer of assets from an individual or entity (transferor) to another individual or entity (transferee) with the intent that the assets be held, managed, or administered by an individual or entity for the benefit of the transferor or certain other individuals. SLDs also include annuities purchased on or after August 11, 1993.
The EW will need to request and review any documentation of the SLD, including verification of investments and distributions, and verification of property addressed by the SLD to determine its status and/or value.
Related Topics
Identifying Characteristic of Trusts