Income-Only / Miller Trust
Top 9 Frequently Asked Questions about Income-Only / Miller Trusts.
Where can I purchase an Income-Only/Miller Trust?
What is a Miller Trust (Income-Only Trust)?
An income-only trust is an actual trust document that meets the Special Needs Trust provisions of the Arizona Revised Statutes. A tool used to help people who are over the ALTCS income limit qualify for the benefits they would normally be denied.
If I create a Miller Trust (Income-Only Trust), will I be income eligible for ALTCS?
No. Unfortunately, that is just the first step. In addition to creating an Income-Only Trust, you must also have the document signed, a bank account in the name of the trust must be opened and funded. Funding the trust means actually depositing the income assigned to the trust into the trust account in the month the income is received.
If I put my income into an Miller Trust (Income-Only Trust) I won’t have any money to live on!
The income placed into a Miller Trust is allowed to be disbursed for personal needs, food, clothing, shelter, medical expenses, share of cost, and other allowable disbursements (see trust provisions for a complete listing). The beneficiary (through the trustee) can use the money to live on. Keep in mind that the total disbursements for food, clothing, shelter, and payments directly to the beneficiary are counted toward the current income limit, so the totals disbursed for these items must remain at or below the current income limit ($2,205 for year 2017).
If I pass away who gets the money left in the trust?
The first named beneficiary of the trust is AHCCCS. If there are funds beyond what is due to AHCCCS still left in the trust, the remaining funds may then be disbursed to your rightful heirs.
Does an attorney have to create the Miller Trust Document?
No! A certified legal document preparer (CLDP) can create the trust for you and at a fraction of the cost of most law firms. ALTCS Planning.net employs Carol Aragon-Montgomery, a CLDP.
What is the cost of an ALTCSPlanning.net Miller Trust?
We offer 3 different packages ranging from $250.00 – $999.00.
The $999.00 fee includes a Miller Trust consultation and explanation appointment with our consultant, the preparation of the trust documents and forms, signing with our notary, and the set-up of the Miller Trust checking account (at your discretion). We guarantee that if you need the trust this week we will fit you into our schedule*.
*If you have already spent this month’s income, we will schedule the appointment for the week in which the next month’s income is received.
Why should I choose to buy an ALTCS Planning.net’s Income-Only Trust?
Our trust has been in use for 16 years and has helped countless individuals get one step closer to their goal of approval for the ALTCS Program. We also offer 3 different packages to help assist individuals complete the steps for successful IOT submission and accomplish their ALTCS eligibility goals.
Is there a way to find out if me or a loved one may need an IOT?
Yes! Fill out the questionnaire below.
- Income-Only/Miller Trust Preparation
- Premium To-Do List
- Completed Forms for ALTCS: IOT, Direct Deposit, Direct Debit
- 2 Hours of IOT Consulting time
- Opening Bank of America IOT account for you (if you choose Bank of America)
- Home Visit Fee (Phoenix-Metro Area)
- Postage/Handling Fee (value: $15.00)