Finally, a one-stop resource for long term care planning. Let our umbrella of guidance shelter you from the long term care cost storm. Sheltering customers since 2001.
Miller Trusts, Income-Only Trusts, Special Needs Trusts
Are you trying to qualify for ALTCS?
Are you over the income limit and need a Miller Trust / Income-Only Trust yesterday?
Are you tired of being referred to firms that don't have the time to deal with you OR the patience to
give you proper instructions regarding the Income-Only Trust?
We prepare affordable income-only trusts and provide information to get your trust successfully through ALTCS policy review.
Income-only trusts purchased elsewhere can cost from $1000.00-$2500.00.
You can save money and meet with an experienced Income-Only Trust Resource today!
An Income-Only Trust is one of the three kinds of Special Treatment Trusts.This kind of trust is sometimes known as a stream-of-income, income-cap, or Miller trust. Special requirements are unique to this type of trust.
INCOME-ONLY TRUST INFORMATION
The trust is created and funded
to establish income eligibility for the Arizona Long Term Care System (ALTCS).
The trust is for the benefit of the person in need of long term care only. It may not be used for the benefit of any other person or entity.
Disbursements
from the trust can only be issued for the following items:reasonable legal and professional expenses
relating to the trust, Share of Cost, health insurance premiums, medically
necessary medical expenses, Community Spouse Monthly Income Allowance (CSMIA),
income taxes when an actual tax liability is established, purchase of an
irrevocable burial plan or designating a maximum of $1500.00 in a separate
account as a burial fund, and living expenses for food, clothing, or
shelter.
The total disbursements from
the trust for food, clothing, shelter, and personal needs, when added together
with the income outside the trust, must never exceed the current income
guidelines for ALTCS (2012 = $2094.00).
Arizona
Health Care Cost Containment System (AHCCCS) is the primary beneficiary of the
trust.Upon the applicant's death, the
remaining balance (or an amount equal to the total medical expenses AHCCCS paid
on the applicant's behalf) will be due to AHCCCS.
If a Share of Cost (SOC) is assessed, you
are required to pay the Share of Cost each month.
If legally permissible, the income
assigned to the trust must be directly deposited into the income-only trust
checking account.
No other deposits
may be made to the trust, except of the income assigned to the trust.In addition, NO RESOURCES OR ASSETS CAN EVER
BE ADDED TO THE TRUST.Failure to follow
this rule can cause ineligibility for ALTCS.
Yes! I need an income-only trust . . . Please call me, my information is listed below.
ALTCS Planning.net is not affliated with AHCCCS / ALTCS / VA. ALTCS Planning.net is a private consulting firm.
If you would like to schedule an appointment or would like to submit a question or a comment, please use the form below. We respond to all inquiries within one business day.
ALTCS Planning.net is not affiliated with AHCCCS / ALTCS / VA.
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The information on this website is provided "as is" for general information purposes only. The content of this website may not be comprehensive, up-to-date, or applicable in all jursdictions. The content may not reflect the views of Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) and Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) makes no warranty of any kind, whether express or implied, with respect to any information provided on this website. Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) assumes no liability for any errors or omissions in the content on this website and the information provided is not to be construed as legal advice. The information is intended to provide a general, factual overview of legal documents and planning options available. For legal matters you should always seek counsel of a qualified attorney licensed in your jurisdiction. Use of any information on this website is at your own risk.
**IMPORTANT NOTICE**
Our CLDP, Carol Aragon-Montgomery, prepares legal documents.OUR CLDP IS NOT AN ATTORNEY AT LAW AND IS NOT EMPLOYED BY ATTORNEYS AT LAW AND CANNOT GIVE LEGAL ADVICE.Your communications with our CLDP are kept CONFIDENTIAL by our CLDP, but since our CLDP is not an attorney at law, such communications are NOT PRIVILEGED (i.e., immune from Subpoena). Our CLDP can give you general factual information pertaining to legal rights, procedures, or options available to you in a legal matter when you are not represented by an attorney.Our CLDP cannot give you specific legal advice, opinions, or recommendations about your legal rights, remedies, defenses, options, or strategies. Please note that the Long Term Care Planning Services are of a financial planning nature and are not specific "legal" advice. Prices subject to change without notice.