In its simplest terms, a Qualified Income Trust (QIT) serves as a depository for all income in excess of the Medicaid cap. The trust is irrevocable, that is, once established, it cannot be abolished. A QIT is executing a proper trust agreement and opening a QIT account at a bank.
Qualified Income Trust
$1,200.00
In its simplest terms, a Qualified Income Trust (QIT) serves as a depository for all income in excess of the Medicaid cap. The trust is irrevocable, that is, once established, it cannot be abolished. A QIT is executing a proper trust agreement and opening a QIT account at a bank.
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