Fort Myers Miller Trust Lawyers
A Miller Trust, also known as a Qualified Income Trust, is a type of trust used by persons seeking to become Medicaid eligible when they have excess income. It is a specialized type of trust that requires the assistance of a qualified lawyer.
At O'Halloran & O'Halloran, we have the specific experience you need when looking into Medicaid eligibility issues. Our attorneys have handled complex problems for more than 35 years and excel at resolving even the most difficult eligibility cases. The amounts of income allowed changes every year. Because of this, we advise you to speak with one of our Fort Myers Miller Trust attorneys. We have a long and rich history of representing Southwest Florida clients with many estate planning, elder law and Medicaid planning issues.
How Miller Trusts Work
If you are seeking Medicaid benefits for nursing home or other long-term health care and your income exceeds the allowance under Medicaid laws, you must create a Miller Trust. The overage income is placed in the trust with a trustee appointed. There are different ways the trust money can be used, including retaining some of it for your use, giving some to your spouse if the spouse’s income falls below a certain amount and paying toward your portion of the nursing home cost.
Once the excess income is contained in the trust, you can establish your Medicaid eligibility.
Southwest Florida Income Only Trust Attorneys
Miller Trusts go by many names, including an income only trust, supplemental needs trust, qualified income CAP trust and Medicaid qualified income trust. Regardless of the title, the effect is the same.
With the guidance of our attorneys, you can create a Miller Trust yourself. You can also have your competent spouse create it, or your personal representative if he or she has a power of attorney. To keep your Medicaid eligibility, the trust must be properly managed. This includes following specific rules. To make sure your Miller Trust is created and managed according to the requirements, seek counsel today from our Fort Myers firm, with satellite offices in Collier and Charlotte counties.