What Is a Miller Trust, and How Does It Work?

What Is a Miller Trust, and How Does It Work?

A Miller Trust is a special type of trust that enables those on Medicaid to legally divert portions of their income to a specific type of bank account. This trust, sometimes called a Qualified Income Trust, allows the person to become income-eligible if income is over a certain amount.

When using a Miller Trust, the Medicaid applicant's income meets the maximum limit dictated by the government program. Because of the numerous factors involved in setting up a Miller Trust properly, the assistance of a licensed attorney is advised. The attorney can draft all the appropriate paperwork and get the trust started.