Miller Income Only Trust

When an applicant's monthly gross income exceeds the ALTCS income limit $2,205 (2017).  A Miller Trust or Income Only Trust is recommended to ensure the applicant's income does not count in the financial eligibility process.

A trust needs to have a Trustor, Trustee, be irrevocable, the trust can only be funded with the customer’s income, and other factors.

The trust document itself is used for proof of who created the trust and that the full amount of the gross income is assigned via direct deposit to the IOT.

It is highly recommended that once the Trust has been established and opened at the bank that a debit card is not used. Any questionable withdrawals can be considered inappropriate and the Trust will not be acceptable.

This is not a Trust to be used to shelter or protect assets.
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