What is a trust?
A Trust is simply a different way of holding property. A person can establish a trust for almost any purpose. The person who establishes a Trust is called the Grantor or Settlor. The Grantor determines who will administer the Trust, who will receive benefits from the Trust and how the Trustee can determine how and when each beneficiary will be paid. The Grantor can be the Trustee and also a Beneficiary, but her interest must eventually pass to another in order to be a true trust. A Trust can be revocable, which means the person who establishes the trust can change or terminate it at any time, or it can be irrevocable, which means that once the trust is set up that person has little or no control over the Trust and its assets. Different types of trusts will be viewed differently by MassHealth for purposes of its determination of the assets owned by a person applying for benefits.