Miller Trusts is an irrevocable trust established to protect an individual's assets from being used to pay for their long-term care costs. These Trusts are most commonly used by individuals with high incomes who may be at risk of losing their assets if they need to enter a long-term care facility or nursing home. If you are looking for miller trusts in Arizona then, you should check https://elderlawofaz.com/elder-law-altcs/.
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The trust is designed to protect the assets of the individual from being used to pay for their care, while still allowing them to keep their assets and maintain financial independence. Generally, the individual will transfer their assets into the trust, which is managed by a trustee. The trustee is responsible for managing and distributing the assets according to the terms of the trust.
These Trusts are designed to protect the individual's assets from being used to pay for their care costs. The trust works by allowing the individual to transfer their assets into the trust, which then becomes the source of payment for their care costs. This allows the individual to keep their assets, while still being able to pay for their care.
Miller Trusts also provide asset protection for the individual and their family. The trust is legally binding and can help protect the individual's assets from being taken by creditors or other legal entities. This can help provide some peace of mind, knowing that their assets are safe and secure.
