What is a Qualified Income Trust, or Miller Trust, in Florida?
An irrevocable qualified income trust in Florida, which is sometimes referred to as a “Miller Trust” or “QIT form,” is a trust that is allowed by Florida Medicaid law. The QIT form allows someone who is ineligible for Florida Medicaid benefits to pay for skilled nursing care, because they have too much income. If the Medicaid applicant has more income than is allowed for eligibility ($2,313 per month for 2019), the qualified income trust will allow eligibility for benefits even though income is over the amount allowed. The qualified income trust can be used to qualify for benefits under the Institution Care Program (ICP) or any of the waiver programs provided by Medicaid.
The ICP Medicaid benefits help pay for long term care in a skilled nursing home. The current cost for long term care in a skilled nursing home is more than $8,000 per month or $96,000 annually on average in Florida, according to this 2018 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 11 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.”
What is an “Income Cap” State?
Florida is an “Income Cap” state, which means there is an upper income limit for Florida 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 Florida 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. This is an 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 qualified income trust, or Miller Trust, will allow you, or your family member, to qualify for Medicaid benefits to pay for nursing home long term care costs, even if the skilled care nursing home resident has income that exceeds the Medicaid “Income Cap.” For 2019, the Medicaid income cap in Florida is $2,313 per month. The qualified income trust must be prepared by an attorney in Florida.
Does the Qualified Income Trust Need a Taxpayer Identification Number?
Some banks may require that you obtain an Taxpayer Identification Number. However, the IRS specifically provides that: “If the trust is a Miller type trust, Do Not assign an EIN. Instead, inform the trustee that he/she must . . . Use the SSN of the beneficiary or trustee to report trust activities.” Part 21, Chapter 7, Section 13, of “Assigning Employer Indentification Numbers (EINs). Furthermore, Miller Trusts are treated as grantor trusts pursuant to Internal Revenue Code Section 671. That section provides that since the income is solely that of the beneficiary of the Trust, i.e., the Medicaid applicant, only the SSN of the beneficiary should be used.
- You 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 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 for Florida is only $295.
- We guarantee to provide you with your Miller Trust within 48 hours of your submission of the information. We provide you with simple and complete instructions for properly signing the irrevocable Medicaid qualified income trust document and instructions for handling the bank account for the irrevocable qualified income trust.
- The QIT form that is prepared through this site is accepted for the Institutional Care Program (ICP) or the community based waiver programs for long term care in an assisted living facility provided by one of the managed care companies who have contracted with the State of Florida to provide long term care.
What if I need a durable power of attorney before I can sign a Qualified Income Trust for my loved one?
If you need to prepare a Florida durable power of attorney for finances that meets the requirements of the Florida Department of Children and Families to establish a qualified income trust, you can prepare a Power of Attorney, right here online –just click here.
If you or your family member, who is currently, or is about to begin living in a skilled nursing facility, or who seeks to become qualified for Medicaid benefits, and has income in excess of that Medicaid allowable amount ($2,313 per month for 2019), 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.” 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 before you can become eligible for Medicaid benefits.
If you have Medicaid planning needs that go beyond the need for a income trust, you can obtain information about Medicaid planning for more complex issues beyond those involving 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 long term nursing home care or assisted living costs, please call us at (904) 448-1969 or toll free 1-866-510-9099. Or, you can schedule a Medicaid planning consultation by telephone or we can provide a consultation by email if you prefer.
The upper income limit typically is adjusted up by a few dollars each year. In many cases when an elderly person’s income exceeds the upper allowable limit, irrevocable “Qualified Income Trusts” (also known as “Miller Trusts” or a “QIT form for Florida” 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. The maximum income limit for 2019 is $2,313 per month.
There are detailed requirements that are legally necessary for drafting a QIT. There are also many rules that govern the administration of an irrevocable qualified income trust account. Following the requirements for establishing and administering a qualified income trust is necessary for maintaining Florida Medicaid eligibility for the elderly person after it is first obtained. Your Medicaid planning elder law attorney in Florida 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 QIT form for Florida prepared at this site, we provide you with 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 your Qualified Income Trust, along with instructions for the proper signing of qualified income trusts.
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 legally sufficient durable power of attorney in place so the Miller Trust for Florida can be established by the incapacitated person’s legally appointed agent.
The legal form for the Florida durable power of attorney for finances should include specific authorization for the agent, who is sometimes called the “attorney in fact,” to sign the irrevocable qualified income trust agreement for the incapacitated person’s skilled nursing home Florida Medicaid eligibility requirements. The Medicaid regulations require that the durable power of attorney must include a provision specifically granting the authority of the agent to establish trusts for the individual seeking Medicaid benefits. A properly drafted and signed durable power of attorney is a requirement for those who want to obtain Medicaid benefits on behalf of another under the Institutional Care Program.
If you need a Florida designation of health care surrogate (health care power of attorney) you can prepare one here, just Click Here
The designation of health care surrogate, sometimes called a power of attorney for health care, may be the most important document that you can have. Any competent adult may also designate a Health Care Surrogate to make all health care decisions during any period of incapacity. During the person’s incapacity, the Health Care Surrogate has the duty to consult expeditiously, with appropriate health care providers. The Health Care Surrogate also provides informed consent and makes all health care decisions for the incapacitated person, that he or she believes the maker would have made under the circumstances if the maker were capable of making and communicating such decisions. If there is no indication of what the maker would have chosen, the Health Care Surrogate may consider the maker’s best interests in deciding on a course of treatment. If you need only a health care power of attorney or designation of health care surrogate, you can prepare our legal form for a health care power of attorney, or Designation of Health Care Surrogate, online right now, pursuant to Florida Statutes, Section 765.203.
An experienced elder law lawyer in Florida can assist you in obtaining the proper form for power of attorney both for finances and to appoint a health care surrogate. Without a proper form for the Florida durable power of attorney, the incapacitated individual may not qualify for Medicaid benefits even with the QIT form. The designation of health care surrogate will also allow the person designated to make the sometimes crucial medical treatment decisions that allow the Medicaid beneficiary to remain healthy.
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 needs to become eligible for Medicaid benefits, you can obtain qualified income trust 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 QIT form for Florida, or Miller Trust, that you obtain through this website is reviewed by C. Randolph Coleman, an experienced Florida elder law attorney with more than 30 years experience as an 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 QIT form for Florida, your durable power of attorney, and your designation of health care surrogate online, by answering a few short questions that will provide the information necessary for our office to prepare your qualified income trust or Miller Trusts form.
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 holidays and weekends). Our Florida irrevocable qualified income trusts are guaranteed to meet the requirements of the Florida Department of Children and Families (“DCF”) for those documents, or we will refund your money in full if your QIT form or durable power of attorney is not accepted by DCAF because it is not legally proper.
If you need a consultation for a fee with our experienced Florida elder law attorney, for a QIT form, Medicaid spend down planning, wills or trusts, probate or trust administration, or any other elder law needs, please call us at 904-448-1969, or toll free at 866-510-9099, or Contact Us, to schedule a consultation; or learn more at www.TheColemanLawFirm.com.