What is a qualified income trust (QIT)?

A qualified income trust (QIT) is a legal document used in Washington state to help people with limited incomes who qualify for Medicaid to pay for nursing home care. Medicaid is a need-based government program that pays for medical treatment for certain individuals but only covers the cost of certain living arrangements. A QIT allows an individual to have their income used for nursing home care without it disqualifying them for Medicaid. A QIT is also referred to as a Miller Trust or a Testamentary Trust. It is a type of trust that requires any income or other assets that the individual has over a certain limit to be placed in the trust. The money in the trust is then used to pay for the individual’s nursing home care. This ensures that the individual’s income is still used to pay for their care but that it does not disqualify them from receiving Medicaid benefits. In Washington State, a QIT must meet certain criteria in order for it to be considered a valid trust for Medicaid purposes. The trust must include language that states that the money in it will be used only for the purpose of paying the individual’s nursing home care, that the money in the trust is not available to the individual in any other way, and that the trust will not be used to satisfy the individual’s bills or debts. A QIT is a useful legal document in Washington state as it allows individuals with limited incomes to qualify for Medicaid while still having their income be used to pay for their care.

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What is a qualified income trust (QIT)?

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