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Miller Trust/QIT for Elderly
Posted on 8/7/24 at 7:50 am
Posted on 8/7/24 at 7:50 am
Has anyone on this board experienced going through the creation of and overseeing a Miller Trust, aka Qualified Income Trust, for an elderly family member so that they can get Medicaid approval for long term/memory care?
Specifically in Texas.
Specifically in Texas.
1
Posted on 8/7/24 at 8:19 am to ColoradoAg03
Yes, I'm an elder law attorney here in FL. Do them all the time. They're just a glorified bank account.
Posted on 8/7/24 at 8:21 am to TheOcean
Do I have to do one in TX, with a TX attorney, and fly down to see one/sign paperwork? Or can it be done long distance with e-sign?
Abot how much does it cost to set one up?
I do have POA.
Abot how much does it cost to set one up?
I do have POA.
This post was edited on 8/7/24 at 8:22 am
Posted on 8/7/24 at 8:56 am to ColoradoAg03
You can have the Texas attorney draft it and you can sign it as POA anywhere you live. You'll need to find a bank either local to you or in Texas that can then set up the QIT. If you go to a big bank near you then you might be able to just set it up without having to fly down
Posted on 8/7/24 at 11:29 am to TheOcean
Great, thanks. She currently uses Wells Fargo for her checking account, so I'll reach out to them about it, as well as an elder law attorney in north Houston.
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