Helping You Get The Qualified Income Trust You Need, Right Now, Right Here
When A Qualified Income Trust Is All You Need
If you, or your family member, is in a nursing home, and all you need is a qualified income trust to qualify for Medicaid to pay for nursing home care. You can get your QIT prepared for you at this website, right here and right now.
Prepare Qualified Income Trusts Online - Right Now
What are Florida Qualified Income Trusts (or Miller Trusts)? How do Qualified Income Trusts Work? Prepare your QIT Now, Online!
What are qualified income trusts (QIT), sometimes called Miller Trusts? How qualified income trusts work in Florida? Prepare your qualified income trust for nursing home care online here. An irrevocable qualified income trust, sometimes referred to as a "Miller Trust" or "QIT," is a trust that is provided for by Florida Medicaid law for Medicaid eligibility, so that one can qualify for
Medicaid benefits to pay for long term care in a skilled nursing home and for any of the community based Medicaid programs, even when the Medicaid beneficiary has more income than is otherwise allowed for Medicaid eligibility for nursing home benefits. (Information about the current cost for long term care (more than $8,000 per month or $96,000 annually) is provided by this 2014 survey by Genworth Financial).
According to the Genworth Financial study, "there are 10,000 baby boomers a day turning 65 and this is expected to continue for the next 13 years. At least 70% of people over 65 will need long term care services and support. By 2020, 12 million people are expected to require long term care at some point."
A QIT or Miller Trusts will allow you, or your family member, to qualify for Medicaid benefits to pay for nursing home costs or to participate in one of the community based waiver programs offered by Medicaid, even if the skilled care nursing home resident has income that exceeds the Medicaid "Income Cap" established for Medicaid eligibility. Currently, for 2016, the Medicaid income cap in Florida is $2,199 per month.
Where Can You Obtain Florida Qualified Income Trusts or Miller Trusts?
You can begin the process of obtaining your Florida Miller Trusts (QIT) online by going to our Qualified Income Trusts document (click here) preparation site and answering a few questions. Submit the QIT questionnaire after completing it, pay the small fee, and we'll have the completed trust to you within 48 hours (excluding weekends and holidays). It only takes a few minutes and the fixed fee for your irrevocable qualified income trust is only $295. We promise to provide you with your Miller Trust within 48 hours of your submission of the information. We provide you with simple instructions for properly signing the irrevocable Medicaid qualified income trusts document and instructions for handling the bank account for the irrevocable qualified income trusts. The QIT form that is prepared through this site is acceptable for the Institutional Care Program (ICP) or any of the community based waiver programs for care in an assisted living facility.
You also can obtain qualified income trusts, or Miller trusts, from an experienced elder law attorney. If you would like to schedule a consultation to explore whether qualified income trusts, or Miller Trusts, can assist you or your family member with obtaining Medicaid benefits to pay for nursing home or assisted living costs, please call us at (904) 448-1969.
If you or your family member, who is currently, or is about to start, living in a skilled nursing facility, or who seeks to become qualified for Medicaid benefits in any of the community based waiver programs, and has income in excess of that Md amount ($2,199 per month), an irrevocable qualified income trust must be established so he or she can qualify for Medicaid benefits to help pay for the cost of long term care in a skilled nursing facility or in any community based waiver Medicaid program.
For the purpose of determining whether you qualify for Medicaid benefits, the State of Florida includes indemnity payments you receive from long term care insurance as "income." Accordingly, if your income plus long term care insurance benefits exceed the income cap, then you will need the irrevocable qualified income trusts, or Miller trust for Medicaid benefits.
Florida is an Income Cap state, which means there is an upper income limit for Medicaid eligibility. A person's total gross income includes the amount received from Social Security, pensions, IRAs and all other forms of income. "Income" for Medicaid eligibility purposes is gross income. This means that all deductions are added back to the income before one can determine the total amount of income for Medicaid eligibility purposes, and is another example of why proper Medicaid planning is so important for each individual who needs assistance for the cost of long term care, and why qualified income trusts may be necessary for Medicaid benefits.
The upper income limit typically goes up by a few dollars each year. In many cases where an elderly person's income exceeds the upper limit, irrevocable "Qualified Income Trusts" (also known as "Miller Trusts" or a "QIT" or an "Medicaid income only trust") can be used to legally solve the problem of too much income and allow the individual to qualify for Medicaid benefits.
Following the detailed requirements for drafting a QIT and for administering an irrevocable qualified income trust account is important for maintaining Medicaid eligibility for the elderly person after it is first obtained. Your Medicaid planning elder law attorney should provide you with detailed and specific direction for the proper funding and administration of the irrevocable qualified income trusts funds. In addition to the qualified income trusts prepares at this site, we provide a Memorandum Regarding Funding Your Qualified Income Trusts, and a letter directed to your bank explaining how to set up and operate the bank account for Qualified Income Trusts, along with instructions for the proper signing of qualified income trusts.
Do You Need A Florida Durable Power of Attorney?
If the individual seeking Medicaid benefits is incapacitated and unable to legally sign the irrevocable qualified income trusts documents, it is generally necessary for there to be a proper durable power of attorney in place so the Miller Trusts can be established by the incapacitated person's legally appointed agent.
The form for the Florida durable power of attorney should include specific authorization for the agent or attorney in fact to sign irrevocable qualified income trusts for the incapacitated person's skilled nursing home Medicaid eligibility. The Medicaid regulations require that the durable power of attorney must have a provision allowing the agent to establish trusts for the individual seeking Medicaid benefits, otherwise qualified income trusts cannot be legally completed by the agent. A properly drafted and signed durable power of attorney is a necessary requirement for someone who is incapacitated to obtain Medicaid benefits under the Institutional Care Program.
An experienced elder law lawyer can assist you in obtaining the proper form for power of attorney. Without a proper form for the FL durable power of attorney, the incapacitated individual may not qualify for Medicaid benefits.
If you need irrevocable Qualified Income Trusts, or Miller Trusts forms, to qualify for Medicaid benefits, and that is the only remaining requirement for you or your loved one to become eligible for Medicaid benefits, you can obtain qualified income trusts documents that are guaranteed to meet the legal requirements of the Florida Department of Children and Families for such Miller trusts, quickly and at a reasonable cost, by clicking here.
The irrevocable qualified income trusts template, or Miller Trusts form, that you can obtain through this website is reviewed by an experienced elder law lawyer with more than 30 years experience as a Florida attorney, and more than 25 years experience working with the Florida Department of Children and Families (and its predecessor the Department of HRS) in the preparation of irrevocable qualified income trusts for Medicaid eligibility.
You can prepare your Florida qualified income trusts template online, by answering a few questions that will provide the information necessary for our office to prepare your Miller Trusts form in Florida.
Your answers to the questions will be reviewed by our experienced Florida elder law attorney, who will complete the Miller trusts and return it to you by email within 48 hours (excluding weekends). Our Florida irrevocable qualified income trusts are guaranteed to meet the requirements of the Florida Department of Children and Families ("DCAF"), or we will refund your money in full if your trust form is not accepted by DCAF.
If you need a consultation with our experienced Florida elder law attorney, for a QIT, Medicaid spend down planning, or any other elder law needs, please call us at 904-448-1969, or toll free at 866-510-9099, or email us at Info@QualifiedIncomeTrust.com.