How do I get a Qualified Income Trust (QIT) or Miller Trust?

Q: How do I get a Qualified Income Trust (QIT) or Miller Trust?

Consult with a lawyer for advice. QIT Steps Draft QIT Select trustee Calculate what income is going into the QIT and complete Schedule A to reflect the income Go to bank and open QIT account using SSN of beneficiary Once funded, set up automatic ACH payments to the facility so that the QIT empties each month

Question

Amy Bryant · Accepted Answer

Consult with a lawyer for advice.
QIT Steps
1. Draft QIT
2. Select trustee
3. Calculate what income is going into the QIT and complete Schedule A to reflect the income
4. Go to bank and open QIT account using SSN of beneficiary
5. Once funded, set up automatic ACH payments to the facility so that the QIT empties each month