North Dakota Code 59-08-02 – Third-party special needs trusts under state law
1. A third-party special needs trust must provide for the living expenses and other needs of an individual with a disability when publicly funded benefits are not sufficient to provide adequately for those needs. A third-party special needs trust must limit distributions in a manner and for purposes that supplement or complement publicly funded benefits for an individual with a disability. A third-party special needs trust may not have the effect of replacing, reducing, or substituting for publicly funded benefits otherwise available to a beneficiary with a disability or rendering a beneficiary with a disability ineligible for publicly funded benefits.
Terms Used In North Dakota Code 59-08-02
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Individual: means a human being. See North Dakota Code 1-01-49
2. This section applies to any third-party special needs trust that complies with the requirements of this chapter, regardless of the date on which the trust was created or funded. Notwithstanding any other provision of the law, this chapter does not disqualify any beneficiary of a third-party special needs trust from receiving publicly funded benefits if the trust did not disqualify that individual under previous law.