John Doe has 2 incomes. One income is $1,705.00 and one income is $501.00 and John is not married. The income limit for 2017 for a single individual is $2,205.00.
John’s income equals $2,206.00. He is only $1.00 over the current income limit and therefore income ineligible for the ALTCS program.
There is a way John may be able to be income eligible for the ALTCS program. The Income-Only Trust.
There are 3 steps to become income eligible.
- Create a Trust with specific requirements as dictated by Arizona Law.
- Create a bank account titled to the Trust.
- Deposit the income received to the bank account titled to the Trust
Although, this seems very easy; there are a lot of little steps to ensure continuing income eligibility. Which is why we offer three different Income-Only Trust Kits. Check them out, here.