A free resource for clients facing New Jersey's Medicaid income limit — shared by Oakwood Elder Law, prepared with Miller Trust Guide.

NJ · Free call-ahead checklist

Before you go to the bank — 7 questions to ask first (New Jersey)

A plain-English call-ahead checklist for opening a Qualified Income Trust bank account in New Jersey — what to ask on the phone before a client drives to a branch, so a first-time teller doesn't turn one trip into two.

7 questions to ask before you go

Ask these when you call ahead. If an answer raises a flag, that's useful to know before the trip, not after.

1. Have you opened a Qualified Income Trust account before?

   If the answer is no, ask specifically for the trust department (if the branch has one) or the branch manager directly — starting with a teller who's never handled one is the single most common way this turns into two trips instead of one.

2. Will this account need an EIN, or is the applicant's Social Security number enough?

   Confirmed by DMAHS (Memo to NJ Banks + 'What Medicaid Applicants Need to Tell a Bank'): a QIT is established using the beneficiary's Social Security number — an EIN is NOT required. A Miller-type/QIT is a grantor trust under IRC § 671 and is reported under the SSN; banks can verify via IRS IRM 21.7.13 (Treas. Reg. 301.6109-1(d)(2)). DMAHS provides a printable bank memo confirming this. The account must be a checking account with no minimum-balance requirement; an opening deposit up to $20 is allowed and monthly fees should stay under $20.

3. Branch demands an EIN / tax ID for the trust

   Ask: If you need the trust's tax ID (EIN), can the account be opened the same day I bring it?

4. Branch doesn't know how to title the account or which account type

   Ask: How would you title an account owned by an irrevocable trust, and which account product would you use?

5. Branch insists on a large opening deposit or minimum balance

   Ask: Is there a minimum opening deposit or minimum balance on that account, and what does it cost if the balance stays low?

6. Branch has never opened a QIT / Miller Trust account

   Ask: Can you check your bank's account-opening procedure for irrevocable trusts before I come in, and tell me what it requires?

7. Branch questions who may open it / reviews the POA

   Ask: What documents do you need from the person signing as trustee: the signed trust, photo ID, a power of attorney?

These are the points branches raise most often on this account type. The full New Jersey Qualified Income Trust Setup Kit has the word-for-word response and the exact DMAHS citation for each one.