A Miller Trust With Texas

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Multi-State
Control #:
US-02035BG
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Description

The Millers Trust Agreement serves as a legal framework for establishing an irrevocable income trust in Texas, designed primarily for individuals seeking to manage their assets while complying with Medicaid requirements. Key features include provisions for the transfer of income such as Social Security and pensions into the trust, ensuring the proper management of these funds by the designated trustee. The document specifies the administration of the trust estate, detailing income distribution rules in alignment with state laws and Medicaid regulations. It also highlights the irrevocability of the trust and outlines the powers granted to the trustee, enabling them to act as an absolute owner of the trust assets. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form particularly useful when advising clients on asset protection strategies, estate planning, and Medicaid qualification. Filling and editing instructions are straightforward, requiring clear designation of trustor and trustee names, and compliance with state-specific language and requirements. The form's structured layout aids in efficient completion and understanding, making it accessible for users with varying levels of legal expertise.
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FAQ

You might need a Miller trust if your income exceeds the Medicaid eligibility thresholds, yet you require assistance for long-term care. This trust enables you to place your excess income into a dedicated account that helps you qualify for necessary Medicaid benefits. By using a Miller trust in Texas, you can access vital health care services while preserving some of your income for personal use. This approach provides a balance between care needs and financial stability.

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A Miller Trust With Texas