Q: I know there are options to protect current assets for medicaid coverage. Can the same protect income from pension?
My parents have 2 sources of income (SSI and Pension) and we want to have those protected from Medicaid consideration.
A:
Short answer yes. But proper planning needs to be done by an elder law attorney.
You can use this site to search for elder law attorney’s in the area where your parents reside.
Good luck.
A:
Yes. You can qualify for Medicaid despite excess income by utilizing a qualified income trust (also sometimes called a "Miller Trust" or "d4B Trust")
Article on QITs: https://www.elderneedslaw.com/miller-trusts-qualified-income-trusts-florida
Video on QITs: https://www.youtube.com/watch?v=XTl2OkCUasc
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