Qualified Income Trusts
Helping You Become Eligible for Florida Medicaid Benefits
To Pay for Long Term Care
Helping Protect Florida Families and Their Assets from the Cost of Long Term Care
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Florida Qualified Income Trust, Miller Trust, QIT, The Medicaid Income Trust
Experienced Florida Elder Law Attorney
The irrevocable Florida qualified income trust, or "Miller Trust." that you prepare online, for a fixed fee of $295. The trust document is reviewed by Florida elder law attorney C. Randolph Coleman. Mr. Coleman has been a practicing attorney and member of The Florida Bar for over 30 years. Mr. Coleman has focused exclusively on elder law in Florida and estate planning matters for the past 30+ years, and has prepared hundreds of qualified income trusts that have been accepted by the Florida Department of Children and Families (or its predecessor HRS) to allow elderly skilled nursing home residents to qualify for Medicaid benefits to pay for the skilled nursing home cost.
Mr. Coleman is a member of The Florida Bar Elder Law Section and the Real Property, Probate and Trust Law Section of The Florida Bar. He is rated by his professional peers AV (preeminent) by Martindale-Hubbell and has a 10.0 rating (Superb) by AVVO.
What is a Florida Qualified Income Trust -
How does a Qualified Income Trust Work?
An irrevocable qualified income trust, sometimes referred to as a "Miller Trust" or "QIT," is a trust that is provided for by the Florida rules for Medicaid eligibility, so that one can qualify for Medicaid benefits to pay for long term care in a skilled nursing home or for any of the community based Medicaid Medicaid programs, even if they have more income than is otherwise allowed for Medicaid eligibility for benefits. (Information about the current cost for long term care (more than $8,000 per month or $96,000 annually) is provided by this 2013 survey by Genworth Financial).
Medicaid benefits for nursing homes is one of three alternatives available to pay for long term care in a skilled care nursing home or in any of the community based waiver Medicaid programs.
A QIT will allow you, or your family member, to qualify for Medicaid benefits to pay for nursing home costs or one of the community based waiver programs, even if the skilled care nursing home resident has income that exceeds the "Income Cap" established for Medicaid eligibility. Currently, for 2015, the Medicaid income cap in Florida is $2,199 per month. In December, the Florida Department of Children and Families will announce the rate for 2016.
You can begin the process of obtaining your Florida QIT online by going to our Qualified Income Trust document preparation siteand answering a few questions. Submit the questionnaire after completing it, pay your 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 trust within 48 hours of your submission of the information. We provide you with simple instructions for properly signing the irrevocable Medicaid trust document and instructions for handling the bank account for the irrevocable qualified income trust. The QIT that is prepared through this site is suitable for the Institutional Care Program (ICP) or any of the community based waiver programs for care in an assisted living facility.
What is Medicaid?
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 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 an irrevocable qualified income trust, 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. 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, an irrevocable "Qualified Income Trust" (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.
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 trust fund. In addition to the qualified income trust you prepare at this site, we provide you with a Memorandum Regarding Funding Your Qualified Income Trust, and a letter directed to your bank explaining how to set up and operate the bank account for the Qualified Income Trust, along with instructions for the proper signing of the qualified income trust.
Income for Medicaid eligibility purposes is gross income. This means that all deductions are added back into 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 involved individual, and why a qualified income trust account may be necessary.
An experienced Florida 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 person may not qualify for Medicaid benefits.
What is a durable power of attorney?
If you need an irrevocable Qualified Income Trust, or Miller Trust form, to qualify for Medicaid benefits, and that is the only thing you need to be eligible for Medicaid benefits, you can obtain a qualified income trust document that is guaranteed to meet the legal requirements of the Florida Department of Children and Families for an irrevocable qualified income trust, quickly and at a reasonable cost, at this website.
The irrevocable qualified income trust template, or Miller Trust 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 20 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.
Your answers to the questions will be reviewed by our experienced Florida elder law attorneys, who will complete the Miller trust and return it to you by email within 48 hours (excluding weekends). Your Florida irrevocable qualified income trust is guaranteed to meet the requirements of the Florida Department of Children and Families ("DCAF"), or we will refund your money in full if your qualified income trust form is not accepted by DCAF.
You can begin the process of obtaining your Florida Miller Trust template online by completing the contact information form in the left margin of this page.
If you need a consultation with our experienced elder law attorney in Florida, please call us at 904-448-1969, or toll free at 866-510-9099, or email us at Info@QualifiedIncomeTrust.com.
How can I legally transfer assets to qualify for Medicaid nursing home benefits without spending down all of my assets?
The Coleman Law Firm, PLLC
10161 Centurion Parkway, Suite 310
Jacksonville, FL 32256
Telephone: (904) 448-1969
Toll Free: (866) 510-9099
Fax: (904) 448-5244
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