The use of a Miller Trust can help otherwise Medicaid eligible individuals qualify for Idaho Medicaid’s long-term care benefits when their monthly income exceeds $2,199. Individuals will generally not qualify for Idaho Medicaid’s long-term care benefits if their monthly income exceeds $2,199. Long-term care benefits are typically sought by older individuals in need of assistance with their daily activities, including personal hygiene, food preparation, and mobility. Many older/retired individuals have retirement accounts, annuities, or pensions that provide cumulative monthly income in excess of $2,199. So how can a Miller Trust help?
A Miller Trust is only effective if it is properly established and managed. Here is an overview of the process:
- Establish a valid Miller Trust (a.k.a. Income Only Trust) in compliance with state and federal laws;
- Set up a bank account in the name of the Miller Trust;
- Assign monthly income to the Miller Trust;
- The trustee makes certain payments to the nursing home, provides the Idaho Medicaid recipient with his/her personal needs allowance, and provides a monthly maintenance needs allowance to the spouse who is not in the facility, if applicable.
Contact our team of Idaho Medicaid Planning attorneys for assistance with utilizing a Miller Trust. At Racine Olson our experienced Idaho Medicaid planning attorneys recommend planning for long-term care as early as possible. Our Idaho Medicaid planning attorneys will help you plan for your long-term care needs by helping you form a plan to ensure you or your loved ones receive the care they need. Our Medicaid planning attorneys assist clients throughout Idaho, including Firth, Malad, Montpelier, Preston, Driggs, Rigby, Tetonia Soda Springs, American Falls, Blackfoot, Pocatello, Idaho Falls, Rigby, Twin Falls, Rupert, Burley, and Boise.
Call us toll free at 877-232-6101 or 208-232-6101 for a consultation with Nathan Palmer and the Racine Olson team of Idaho Medicaid Planning attorneys in Pocatello, Idaho Falls, or Boise. You can also email Nathan Palmer directly at email@example.com. We will answer your Idaho Medicaid questions and will help you determine a plan to meet your needs.