Category Archives: Estate Planning Wills & Trusts
Preparing for the Future: Legal Planning After an Alzheimer’s Diagnosis
June is Alzheimer’s & Brain Awareness Month, a time dedicated to raising awareness about Alzheimer’s disease and other forms of dementia. Local organizations such as Alzheimer’s Community Care work year-round to provide education, support services, and resources for individuals and families affected by memory disorders. For those looking to learn more about Alzheimer’s disease,… Read More »
Why Consider a Living Trust Even If You Have a Will?
The Limits of a Will A will only goes into effect after you die and must be verified by the Probate Court before it can be enforced. It does not avoid probate, and offers no protection if you become incapacitated. The court could take control of your assets before you die, leaving your family… Read More »
What Is a Qualified Income Trust?
Many Florida seniors who need nursing home care find themselves in a frustrating situation: they require Medicaid to cover the cost of care, but their monthly income is just slightly above the Medicaid limit. Even though they cannot realistically afford private nursing home bills that can exceed $10,000 a month, they are told they… Read More »
Can I Stay on Medicaid if I Sell My Home?
For many Florida seniors, Medicaid is a crucial resource for covering healthcare costs, in particular the costs of long-term care. If you’re considering selling your home, you might be wondering how this action will impact your Medicaid eligibility. The answer depends on several factors, including how the sale proceeds are handled and whether the… Read More »
What Is the Difference Between Estate Planning and Asset Protection?
When it comes to securing your financial future and safeguarding your family’s interests, estate planning and asset protection are two essential strategies. While they share the goal of preserving wealth, they address different aspects of financial security and often work together to provide comprehensive protection. Below, we’ll explore the key distinctions between estate planning… Read More »
What Are the Dangers of DIY Estate Planning?
If you’ve been researching estate planning online, you’ve likely been bombarded with ads offering do-it-yourself (DIY) estate planning kits and online legal forms and software, promising quick and low-cost solutions for creating wills, trusts, and other estate planning documents. However, while DIY estate planning may seem appealing, the risks can be significant, especially if… Read More »
Qualified Income Trusts and Medicaid Planning
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 »
What Is the Relationship Between Estate Planning and Medicaid?
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 »
What Is a Successor Trustee in Estate Planning
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 »
What are the Different Kinds of Trusts in Florida?
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 »