Miller Trusts

When an individual wants financial assistance from Medicaid to pay for nursing home care, he or she must meet four important criteria: There must be a medical need They must be in a Medicaid bed Countable resources must be under $2,000,and Gross Income must be less than $2,313/ month Texas is what is known as […]

Miller Trust bank accounts are not the same as traditional bank accounts.  Here’s why: The bank accounts opened to fund a Qualified Income Trust (the technical name for a Miller Trust) operate more like a “representative account” for the payment of a disabled persons expenses. It is not a typical asset-type trust fund.  They are […]

If you plan to open a Miller trust bank account, you need to  understand how these types of accounts differ from traditional bank accounts. Difference #1: The bank accounts opened to fund a miller Trust operate more like a “representative account” for the payment of disabled person’s expenses rather than a typical asset-type trust account.  […]

A Miller Trust solves only one problem when applying for Medicaid: ensuring Medicaid income eligibility when a person applying for Medicaid has too much income. This type of trust is not useful for any other reason.  A Miller Trust cannot protect assets and does not allow you to shelter excess money. If a person applying […]