A transfer is considered “for the sole benefit” of another individual only if established
using a written agreement that legally binds the parties and clearly expresses that
the transfer is for the sole benefit of that individual. Without such a document,
a transfer cannot be determined to be for the sole benefit of the individual. Without
the document, there is no way to establish that only the specified individual will
benefit from the transfer.
Examples of legally binding written agreements are a trust, a deed that establishes
that the person getting the resource is the sole owner, or a legally enforceable contract
that shows that the transfer is for the sole benefit of the individual. The sole benefit
requirement is applicable to certain of the exceptions in SI 01150.121 and SI 01150.123.