Miller trust

An irrevocable trust funded with the income of an incompetent beneficiary who seeks to qualify for Medicaid in a state with an income cap.

• Funding is strictly limited to the beneficiary’s income (from any source). The assets in the trust are not included in the beneficiary’s estate for Medicaid purposes if the trust assets will be used to reimburse the state after the beneficiary’s death. Trust distributions are kept below the income cap in order to preserve the beneficiary’s Medicaid eligibility. This type of trust was first judicially sanctioned in Miller v. Ibarra, 746 F.Supp. 19 (D. Colo. 1990).

— Also termed Miller’s trust; qualified income trust.

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词条贡献者

双语律师李黎，国际知名法学院法律专业，擅长翻译各类与消费者金融诉讼相关的法律文件。