Importance of funding Qualified Income Trust
I was recently asked by a Nursing Home to help them with a client of theirs for the Medicaid renewal. Apparently, the client was denied Medicaid annual renewal and the benefit has been removed. The issue was the Qualified Income Trust. The client paid the attorney $7500 in order to draft the Qualified Income Trust, but the attorney completely failed to guide the family on how to properly fund the Qualified Income Trust. The attorney simply gave it to the family, without any instructions. To make matters worse, the family can not locate the Qualified Income Trust, or who the attorney was that drafted it.
We do things very differently. The hard part is not the drafting; the hard part is to make sure that the Qualified Income Trust is properly funded. Since we also do the application process in-house, we fully appreciate the difficulty and importance of this critical step. We also provide the client with a three ring binder of their documents so that the family can easily keep the documents in one place.
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