Miller Trust - SSN or TIN?

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Question:

When you are opening a Miller Trust account or qualified income trust, whose social security number do you use to open it, the beneficiary's or the trustee's? Should the trust have its own TAX ID number?

Answer:

These trusts are designed to protect income from having to be considered in a determination of an individual's eligibility for Medicaid. The grantor is the person whose income needs to be protected. IRS regulations treat Miller Trusts as grantor trusts under section 671 of the Internal Revenue Code; grantor trusts may use the grantor's Social Security number for tax purposes.

First published (and revised) on BankersOnline.com 11/09/09