Hello, Where did you put the 250,000 in the bank and the 500,000 home go. I heard you say you move it over a few months down to 1500.00. I also heard you say never leave large amounts of money in the QIT.
The 500K home can stay as-is (Medicaid doesn't count a primary residence at that value when determining whether someone is or is not eligible). As far as the 250K in the bank, we have a suite of other legal and ethical strategies that are Medicaid-compliant.... but it would NOT involve placing those funds into a QIT. If in Florida, please call to schedule a consult so we can discuss your particular situation in more detail.
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Thank you... very generous!
You are very welcome! Understanding how Qualified Income Trusts / Miller Trusts work is a really important component of Florida LTC Medicaid programs.
Hello, Where did you put the 250,000 in the bank and the 500,000 home go. I heard you say you move it over a few months down to 1500.00. I also heard you say never leave large amounts of money in the QIT.
The 500K home can stay as-is (Medicaid doesn't count a primary residence at that value when determining whether someone is or is not eligible). As far as the 250K in the bank, we have a suite of other legal and ethical strategies that are Medicaid-compliant.... but it would NOT involve placing those funds into a QIT.
If in Florida, please call to schedule a consult so we can discuss your particular situation in more detail.