(a) Following the death of an individual who is the designated beneficiary of a qualified ABLE account established under § 71-4-804(b), the state shall not:

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Terms Used In Tennessee Code 71-4-813

  • Account: means an account established by. See Tennessee Code 71-4-803
  • 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
  • Code: means §. See Tennessee Code 71-4-803
  • Designated beneficiary: means the eligible individual who has established and owns an ABLE account, and for whose benefit the account has been established. See Tennessee Code 71-4-803
  • State: means the state of Tennessee. See Tennessee Code 71-4-803
(1) Seek recovery of an account balance remaining in the designated beneficiary‘s account for medical assistance paid to or on behalf of the designated beneficiary on or after the date the participation agreement was entered into and the account was established for the designated beneficiary, except as required by federal law; or
(2) File a claim for payment under § 529A(f) of the Internal Revenue Code of 1986 (26 U.S.C. § 529A).
(b) Subsection (a) applies to the extent permitted pursuant to federal law, including § 529A of the Internal Revenue Code of 1986 (26 U.S.C. § 529A).
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