Helpful Information On Setting Up A Miller Trust In Arizona

Seniors are usually eligible for one or more federal benefit programs, including social security and medical care. Medical care is provided in the form of the Medicaid program and can be requested by all adults over 65 years of age. However, some exceptions may result in a person being ineligible.

For example, there are cases where an applicant's income exceeds the legal amount eligible for Medicaid. In such a case, a qualifying income foundation must be established for the applicant so that he or she is entitled to long-term care benefits in old age. This instrument is also called Miller Trust and is an irrevocable trust. You can browse to contact miller trust in Arizona.

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To start a Miller Trust, it is best to hire a senior attorney to take care of the fine details. Additional Medicaid applicant income that exceeds eligibility requirements will be placed in the trust and someone other than the applicant will be appointed as guardian.

Trusteeship outcomes are managed by the appropriate government agency that handles family services once an adult Medicaid application is approved. The applicant is usually allowed to keep a certain income and has the right to transfer part of his income to the spouse if the spouse's income is below the amount set by the state.

Parents can also use excess income received from the Miller Trust to pay a fixed amount for nursing home care. If excess funds remain in the account after the applicant's death, US Medicaid is entitled to a refund.