Category Archives: Estate Planning Wills & Trusts
The Qualified Income Trust
The Problem Florida imposes an income cap for eligibility for the Medicaid institutional care (long term custodial nursing home care) program. The income gap is three times the SSI limit. The income cap is currently $2,205 per month. Since the private pay costs for nursing home benefits in Florida average much more then that… Read More »
Qualified Elective Share Special Needs Trust
When a married individual decides to apply for Medicaid benefits, the applicant’s spouse will almost always need to execute a new last will and testament. If the applicant’s spouse has a pre-existing last will and testament, it typically devises most, if not all, of the estate to the Medicaid applicant-spouse. Even if the applicant’s… Read More »
Who Needs a Self-Settled (d4a) Special Needs Trust?
A Self-Settled (d4a) Special Needs Trust is an important tool if you are a disabled Individual who is over the required asset cap for a given government benefit and wish to qualify for government benefits including but not limited to; SSI, SSDI, Food Stamps, Medicaid, or Section 8 Housing. The “d4A” designation comes from… Read More »
Shalloway & Shalloway Presents to Fort Stewart JAG Corps
Shalloway & Shalloway recently presented to Fort Stewart Judge Advocate General (JAG) Corps on behalf of Stetson Law School. The presentation topics included elder law, special needs care and estate planning. Mark Shalloway, President of Shalloway & Shalloway, was one of the main speakers at this pro bono event. The talks were well-received by… Read More »
When Should You Update Estate Planning Documents?
Just as individuals must visit doctors for check-ups, they should also have their estate planning documents periodically reviewed by an attorney to verify whether updates are needed given any changes in life circumstance. There are many reasons why an individual’s estate planning documents may require updating. Some of those reasons may include: if an… Read More »
Can a Florida Bank Reject My Durable Power of Attorney?
A recent story in the New York Times highlighted the increasingly-common phenomenon of banks rejecting valid powers of attorney submitted after a relative or client has already become incapacitated, instead requiring that the individual sign a power of attorney written by the bank itself. This article has stirred concern among caregivers for elderly parents… Read More »
“ I Don’t Want to Think About that Now…or Ever.”
More than half of retirees do not have a will. More than forty percent do not have a living will. Almost forty percent do not have a Power of Attorney for making health care decisions. Approximately ten percent of Americans do not have an estate plan. The favorite excuse for not having an estate… Read More »
Incentive Trusts Provide Motivation to Heirs
While planning your estate, you may be on the hunt for ways to retain as much control as possible over how your hard-earned funds are distributed after your passing. You may want to use your estate funds as a way to inspire your heirs and loved ones to create a thriving professional life for… Read More »
Getting Started with Estate Planning
Whether you are young or old, married or single, rich or poor, estate planning is for everyone. Without a will and other important estate planning documents, the state of Florida decides what happens to your property after you are gone, and neither you nor your family members will have any say in the matter…. Read More »