Medicaid Planning for Long-Term Care Services
Medicaid Planning for Long-Term Care Services
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This section is not legal advice. Education information only.
Qualified Income Trusts for Medicaid Education
Qualified Income Trusts for Medicaid Education
A Qualified Income Trust (or QIT) is a document to qualify for benefits when applicant income exceeds the income limit. Currently, the income limit in Florida for 2020 is $2,349 for individuals and $4,698 for couples. The Qualified Income Trust document is designed for those over the income limit but who do not receive enough monthly income to pay for their nursing care facility costs.
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Personal Service Contract Education
Personal Service Contract Education
A personal service contract is a planning tool to transfer assets over 2,000 legally in exchange for lifetime care and companionship and provides Medicaid eligibility. Under this contract, you would enter into an agreement with an individual or a professional caretaker to provide lifetime care in exchange for compensation.
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