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BTW any trust will cost about 8 K. And once you have a document you will need to set up a portfolio with a financial advisor
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AlvaDeer Mar 28, 2025
Miller/QIT trusts, according to the internet, are much less expensive than say the trust you draw up to be irrevocable trust to shelter funds, or a regular trust to pass your home, assets to your heirs. The latter range 5,000 to 8,000 now if elaborate at all, but a miller is sometimes done to get one into Medicaid. It is recognized they haven't income in huge amounts of assets. It is often less, but it sure varies and that would be a question for an attorney by phone.
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To answer Alva. I read a while back that no not all States allow Miller trusts. The States that don't have Trusts also do not have a monthly income cap. If all the person has is SS and pension, they will qualify for Medicaid.

Also, a Miller trust, the prime beneficiary is Medicaid. They recover what they are owed, if there is money left, it then goes to the other beneficiaries.
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So have you been actually told that you / an elder you are PoA for has to get a Miller done?

If so, then for the income aspect of LTC Medicaid eligibility the elder is “over resourced”. LSS they have too much monthly income for what your State maximum allows for. Most States have $2,829 as the mo income maximum, so $2900 too high, too bad, so sad unless there is a way to have some or all of that income find a new way to be “owned”.
And that is what a Miller Trust does in the States that allow for it. A Trust is its own independent & separate entity.

Say MeMaw has Social Security retirement monthly income of $2543 + and $500 sm annuity in pay out mode + smaller pension of $321. MeMaw paid $3,364 a mo income, so exceeds income max by $535. Her assets are $1800 in savings account so under the 2K asset max, she was renting an apt and car-less before all this. So her “assets” for LTC Medicaid are all ok. It’s just that pesky $535 income that is keeping her from being eligible. OMG $535 what to do???

Enter Miller. SS income is a qualified aka a guaranteed income source (in theory as we flat do not know what Trump/Elmo will end up doing but that’s another discussion). That it is guaranteed is important as only guaranteed / qualified income streams can be ever used for a Miller. What Miller does, is, that it as a Trust is a separate entity becomes the new erstwhile “owner” of MeMaws SS $2543 AND now she has only $821 mo income. Voila! Eligible! Both end up being paid to the NH as the required Share of Cost less the State set Personal Needs Allowance.

How a Miller has to be done dependent on State laws for Trusts as it gets in the weeds legally for how beneficiaries are dealt with. Some you’ll see an atty to do it, others have their State Medicaid have a packet to do it. Tends 2 be a fixed bank or just a couple of banking groups that does all the Millers in the State. (Fwiw this is similar to those who create an ABLE account as they usually have 1 bank that does all the ABLE accounts for a State).

For non miller friendly States, they tend to do pooled income. NYS does pooled, if I’m not mistaken.
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AlvaDeer Mar 27, 2025
Iggy, do ALL states now allow Miller and/or Q.I.T. trusts?
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You will find very good information, particularly from Igloo, if you look up to the top of the AgingCare timeline, and in the search bar type in "Miller Trust" and/or "QIT Trust."
There are many questions on AgingCare already answering and laying out what this Trust is and how it works. Good discussions.
Not all states will allow Miller Trusts.

Next go to the internet and type in "What is a Miller Trust" and the same question for QITs. (Qualified Income Trust).
Also check with an attorney as regards these trusts. They are the ones who draw up this legal document.

These Trusts are basically for people who make too much monthly income to qualify for Medicaid in their home state given they get perhaps both SS and Pension funds, etc. but they do not have assets to sell. They are "monthly income rich" and "assets poor". Usually the Trust gathers in and protects a certain monthly assured amount and protects it within the trust thus allowing the Senior to qualify for governmental assistance of Medicaid. The beneficiary of the Trust is not the heirs, however, it is usually the government that provided the care. More complicated than that but gives you a bit of a clue.

Best of luck.
Want to welcome you to the Forum; stick around. There's a ton of interesting subjects posted every day.
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