Glossary T-words (AAM)

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Termination — the discontinuation of assistance or benefits received by an individual or assistance group.

Trust — any arrangement in which a grantor transfers property to a trustee or trustees with the intention that it be held, managed, or administered by the trustee(s) for the benefit of the grantor or certain designated beneficiaries, which is valid under state law and manifested by a valid trust instrument or agreement, and where the trustee(s) hold a fiduciary responsibility to manage the trust’s principal and income for the benefit of the beneficiaries.

Trustee — any individual, individuals, or entity such as an insurance company or bank, who manages a trust, or similar device, and who has fiduciary responsibilities.