Many people are familiar with the Miller Trust. However, they don't know much about their purpose and how they affect Medicaid eligibility for long-term care.
The Miller Trust was created to assist individuals who earn more than the income limit in obtaining Medicaid benefits. You can find more information about income miller trust in Arizona from various trusted online resources. Experts can help you achieve approval and avoid other pitfalls that may delay the process.
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This trust is intended for people who have too little income to be eligible for ALTCS, but not enough to cover their care. Arizona's long-term care system does not consider income earned in the Miller Trust that is used for medical expenses as income eligibility.
The ALTCS recipients deposit their income into a Miller Trust account. After that, their trustees pay the income from the trust to the recipients for expenses. This is done in accordance with an ALTCS-approved monthly budget.
The trust should not allow income to accumulate. The Miller Trust is another option that can be used to help ALTCS beneficiaries qualify for the benefit. Trust funds paid for medical or care expenses will reduce the income countable, hopefully enough to allow them to reach the ALTCS income eligibility limits.
The Miller Trust can be managed and planned properly to minimize or eliminate income accumulation. ALTCS strictly monitors the spending of trust funds and limits their use.
There may be other trusts such as a Special Needs Trust, Asset Protection Trust, or other ways of protecting assets. Reputed attorneys in Arizona will help you evaluate your options and decide if a Miller Trust is right for you.