Non exempt asset about 250 k at snapshot date. Mom gets about 100k and change. Dad in custodial care has about 150k. Dad’s has income from SSI, Pension, Investment, etc. What’s the point of Miller’s Trust (QIT).

Mom writes check to facility every month. Mom says Dad’s portion will never be depleted because income is slightly greater than care facility cost and he will never get down to 2k.

Confused. What am I not understanding here?

Update to above. I just spoke with Mom and she says there is just a few hundred dollars in the QIT and she just writes a check from their original joint account to the home. Does this matter? Why do I read that the deposits should be made each month to the QIT and checks written each month from the QIT to the home? Why does it matter?

I am confused too. I will have to google Miller's Trust (QIT). I am not familiar with that. Sorry.

By the way, welcome to ECO.

OK, now I am only half as confused.

http://definitions.uslegal.com/m/millers-trust/

Is your Dad a Medicaid recipient? Did an elder care attorney set up the trust? Not sure what is going on here. Are you POA for either or both of them?

quote:

Originally posted by Bobcat:
OK, now I am only half as confused.

http://definitions.uslegal.com/m/millers-trust/

Is your Dad a Medicaid recipient? Did an elder care attorney set up the trust? Not sure what is going on here. Are you POA for either or both of them?

When a person goes into custodial care he/she must apply for Medicaid in order to be granted or refused. DHS takes a snapshot of assets and discerns whether or not the person is eligible for Medicaid or has to pay themselves until funds are depleted to a certain point. This is where the QIT comes in which is part of the application for Medicaid. This is not about who has POA or whether or not the recipient is currently getting Medicaid or paying out of pocket. See: http://www.elderlawmemphis.com/qit.shtml for more complete understanding.