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#2224311 - 10/24/19 02:00 PM Medicaid Income Pension Trust
A. Bright Offline
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Joined: Oct 2019
Posts: 1
Has anyone ever opened a Medicaid Income Pension Trust? I've heard that sometimes these accounts require extra work on the banker's part, and/or extra liability. Is this true? What extra responsibilities, if any, are involved and what is the risk of liability that the institution takes on?

Thank you,
A. Bright

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#2224502 - 10/26/19 07:25 PM Re: Medicaid Income Pension Trust A. Bright
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
This is also referred to as a Miller Trust. Unless the bank is acting as the trustee through a trust department, opening an account for such a trust has no specific additional liability than any other type of trust account opened at the bank. The trustees are responsible for conducting activity in the trust account in compliance with the trust agreement and any applicable laws.
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