Special rules apply if the trust will hold stock or shares in a corporation, and particularly if the corporation is an â S Corporation. â Only certain trusts can be shareholders of an S corporation: 1  Grantor trusts.
WHAT IS AFDC? AFDC (Aid to Families with Dependent Children) is a program administered and funded by Federal and State goverments to provide financial assistance to needy families. In an average State, more than half (55 percent) of the total cost of AFDC payments are funded by the Federal goverment.
It began on July 1, 1997, and succeeded the Aid to Families with Dependent Children (AFDC) program, providing cash assistance to indigent American families with dependent children through the United States Department of Health and Human Services. This cash benefit is often referred to simply as welfare. TANF was created by the Personal Responsibility and Work Opportunity Act instituted under President Bill Clinton in 1996. The Act provides temporary financial assistance while aiming to get people off of that assistance, primarily through employment. There is a maximum of 60 months of benefits within one's lifetime, but some states have instituted shorter periods. The reform granted states wide discretion of how to distribute TANF entitlements. States also have the authority to eliminate payments to recipients altogether.