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Estate planning is an essential process for individuals and families to ensure their financial affairs are in order and their loved ones are taken care of after they’re gone. One essential aspect of estate planning that cannot be overlooked is planning for long-term care. There may come a time when an individual requires long-term… Read More »
When it comes to securing your financial future and ensuring your healthcare needs are met in your golden years, understanding the intricate relationship between estate planning and Medicaid is crucial, as both concepts can play a major role in your future. Below we discuss the essential link between estate planning and Medicaid, highlighting the… Read More »
If you are new to estate planning in general or revocable living trusts in particular, you might just now be familiarizing yourself with the legal names for the parties involved in a typical trust, such as “Settlor,” “Trustee,” and “Beneficiary.” You might then be wondering what a “successor trustee” is and whether your trust… Read More »
Trusts come in many different forms. Different types of trusts are useful for accomplishing different goals. Some are better suited for protecting your assets from probate and estate taxes, some help to ensure you are financially protected during your elderly years, and others are useful in providing for loved ones while you are still… Read More »
One of the most important things you can do for your children is to establish a living trust in their name. And much like a will, it’s recommended to establish a trust as early on in their life as possible. While trusts may sound like an aspect of life reserved for the super-wealthy, they… Read More »
Planning for your family’s future in the event of your passing is about more than deciding who gets what property. If you have young children, you need to ensure that they are well-cared-for, even if you unexpectedly pass away. You can choose who the court should name as legal guardian for your kids upon… Read More »
Many people confuse elder law and estate planning or use the terms interchangeably. While both areas of law are important, and many attorneys offer both sets of services to the same clients, the two fields do serve distinct goals. When you are planning for your financial future and the future of your family, it’s… Read More »
When preparing wills and trusts, our clients often ask about the estate tax (or “death tax”). The estate tax is often the bane of any estate going through probate, forcing beneficiaries to deal with a second round of taxation before they are entitled to collect their inheritance. While Florida law is especially favorable to… Read More »
Long-term and end-of-life care are expensive. The costs can be even more exorbitant when a person is disabled. To avoid going bankrupt paying for medical costs and other expenses, needs-based governmental assistance programs such as Medicare, Medicaid, and Supplemental Security Income (SSI) are a must. These programs carry specific requirements, including strict limits on… Read More »
West Palm Beach special needs and elder law attorney for more information. Special Needs Trusts Can Be Used to Pay for a Much Wider Variety of Expenses Than Government Funds Broadly, special needs trust funds can be used to pay for things like education, recreation, counseling, and medical treatment beyond the basic necessities of… Read More »