Trust Tool- Qualifying Income Trust (or “Miller Trust”) Account Cheat Sheet
Updated 04/02/2026
This tool offers a general overview of the key components of the Qualifying Income Trust (QIT) (irrevocable trust) and can be tailored by the bank as necessary. This document is not a substitute for official legal documentation.
Rule: Federal Deposit Insurance Corporation (FDIC) Trust Accounts; Uniform Trust Code; Social Security Act, 42 U.S.C. § 1396p(d)(4)(B); State laws may apply.
Toolkit: Trust Tools
Keywords: Trust Account, A Qualifying Income Trust Or Miller Trust Account Cheat Sheet, Miller Trust, A Qualifying Income Trust (QIT), Irrevocable Trust.
4/2/2026 – Updated FDIC Insurance Coverage and Certification of Trust sections.
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