Miller Trusts or Qualified Income Trusts

To qualify for Medicaid nursing home care, an individual can receive no more than $2,094 in 2012 in Social Security, pension, and other monthly income. However, if your monthly income exceeds the limit, it is still possible to qualify for Medicaid by creating a Miller Trust, or Qualified Income Trust (QIT).

The Stone Law Firm can assist you with creating a Miller Trust. We draft a trust agreement to create the trust and guide you through the steps for creating and administering the trust. Nancy Stone, Attorney at Law, has the experience and expertise to assist you with creating a Miller Trust or QIT to obtain Medicaid nursing home benefits.

The Miller Trust agreement must be signed by the Medicaid applicant and the trustee, who is usually a spouse, adult child, or other caregiver. Next the trustee opens a trust bank account and deposits the apaplicant's income into the account each month. The trustee must write certain checks each month, in accordance with Medicaid rules. If any extra funds accumulate in the trust, they are paid to Medicaid when the beneficiary dies, to repay the program for services provided to the beneficiary. Although some income is lost, the beneficiary receives more in benefits than the beneficiary's income could otherwise purchase. The use of a QIT or Miller Trust is completely legal and has been approved by the U.S. Congress.