QIT account definition

QIT account means the account that holds the income placed into a QIT.
Sample 1Sample 2Sample 3
QIT account means the account that holds the income placed into a QIT. (9) "Trustee" is defined in rule 5160:1-3-05.2(B)(12) of the Administrative Code.
Sample 1Sample 2

Examples of QIT account in a sentence

  • Each month, you should leave enough money in the QIT account to keep it open, but you do not want the balance to get too high because the terms of the Trust state that when the patient passes away, any money that is left in the QIT account needs to be reimbursed to the State of Florida.NOTE: If there is a spouse living in the community that is entitled to the “Community Spouse Resource Allowance,” then you will still need to set-up a QIT.

  • It is a balancing effort to put enough into the QIT account, but not accumulate too much.

  • The title of the QIT account must clearly identify it as a QIT account in the name of the individual.

  • In this limit, the magnetic susceptibility χ approaches a constant value, as indicated in the left inset of Fig.

  • The individual can elect to have all, or only a portion, of his or her income placed into the QIT account.

  • Every effort should be made to have the individual's excess income transferred or deposited directly into the QIT account on a monthly basis.

  • Any income not placed into the QIT account will be counted as available to the individual when determining eligibility for medicaid.

  • The trustee may make payments in an amount up to fifteen dollars per month from the QIT account for bank fees, attorney fees, and other expenses required to establish and administer the trust.

  • Should the current month’s income be directly deposited into a non-trust account, place the claimant’s income in its entirety into the QIT account and provide a copy of the deposit slip(s) to your Medicaid Eligibility Specialist.

  • The individual may deposit either the entire Social Security income or the entire monthly pension amount, or both, into a QIT account.

Related to QIT account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Investment Account As defined in Section 3.12(a).

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Credit Account is modified to read “Grant Account”.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Qualified Account means either (a) a segregated account (including a securities account) with a Qualified Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Note Rating Agency in one of its generic rating categories which signifies investment grade.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Direct Account : means any Account which is not an ISA Account.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Separate Accounts means the accounts which are to be prepared for each

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.