Qualified Income Trust

Florida is one of several states with an “income cap” that disqualifies applicants for Medicaid benefits whose income is in excess of $2,022 per month.  However, Florida permits the use of Qualified Income Trusts (QIT) to divert excess income into the QIT in order to become eligible for Medicaid benefits.

There are several technical requirements that must be adhered to when crafting and properly executing a qualified income trust.  It is imperative that everything is done correctly to avoid being denied Medicaid benefits due to a technical error.

The QIT must be properly funded each month to avoid having benefits denied retroactively for failure to do so.  A Qualified Income Trust is a legal document and should most certainly be crafted by a qualified attorney.