Topic: Principal
An annuity gives the right to receive fixed, periodic payments either for life or a term of years. The annuity instrument must be examined to determine the provisions and requirements of the annuity and whether the individual can access the principal. Annuities purchased prior to February 1, 2005 If it is determined that the […]
Irrevocable trust – means a trust in which the grantor has expressly not retained the right to terminate or revoke the trust and reclaim the trust principal and income. Policy regarding this term is located at: SoonerCare (Medicaid): 317:35-5-41.2. Miscellaneous Personal property; 317:35-5-41.6. Trust accounts; 317:35-5-41.7. Retirement funds; and 317:35-5-41.8. Eligibility regarding long-term care services. […]