A buyer may establish an irrevocable trust with respect to all or any portion of the payment made under the contract in an interest-bearing, federally insured escrow or trust account held by the seller, but only for the purpose of entitling the buyer to be eligible for current Social Security benefits or for benefits under any other plan that restricts eligibility to those with limited assets. The seller shall present to the buyer a document establishing the irrevocable trust which provides: The appointment of a trustee to sign all necessary papers to effectuate the contract upon the death of the buyer; That the disposition of income earned by the trust inures to the benefit of the buyer; The transfer of the trust funds, if required; and The disposition of the trust funds if: The business of the seller is discontinued, The seller is unable to perform under the terms and conditions of the preneed contract, or The buyer fails to pay the entire contract price before the death of the beneficiary. The buyer or legal representative of the buyer shall retain the right to appoint, as trustee of the irrevocable trust, a substitute trustee. If the buyer who sets up an irrevocable trust terminates the preneed contract with the seller, the buyer and seller shall take the following actions: The seller shall maintain the funds in trust for the beneficiary until a substitute seller is selected; The buyer shall enter into a new preneed contract with the substitute seller; and The seller shall transfer the trust funds to the substitute seller for placement in a separate interest-bearing escrow account or trust account. Notwithstanding the provisions set forth in these regulations, when a buyer terminates the preneed contract, the funds contained in the irrevocable trust may not be returned to the buyer but the seller shall maintain the funds in trust for the beneficiary. Funds maintained in an irrevocable trust are not counted as assets with respect to the buyer's Social Security benefits, Medical Assistance eligibility, or any other plan which restricts eligibility to those with limited assets. The seller shall provide in the document establishing a trust the following notice, conspicuously displayed in 10-point boldface type: