What is a “Smith Trust” or “Certified Pay Trust”?

If a government assistance applicant’s income surpasses the legal threshold for eligibility, a Certified Pay Trust needs to be established using the applicant’s income to attain qualification for long-term nursing home care benefits. This legal document is alternatively referred to as a Smith Trust. It is an unalterable trust.
The Certified Pay Trust necessitates cautious management and monthly disbursements to uphold eligibility. The trust must adhere to extremely precise regulations.