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Florida Medicaid is a state and federal partnership that provides health coverage, including long-term care, for selected categories of people with low incomes. Medicaid can literally be a lifesaver for people who cannot afford health insurance or health care coverage without assistance. Unfortunately, Medicaid can be difficult to qualify for due to its extremely… Read More »
A special needs trust can be an invaluable legal tool for parents of adults with special needs. A special needs trust allows a party to provide financial support to an individual with special needs without affecting the beneficiary’s eligibility for needs-based governmental programs such as Medicaid or Social Security benefits. Like other trusts, special… Read More »
Special needs trusts (SNTs) are trusts designed to allow beneficiaries to receive supplemental benefits without affecting eligibility for Medicaid, Supplemental Security Income (SSI), and other needs-based programs. In order to qualify as SNTs–meaning the disbursements from the trust will not be counted as income and the assets in the trust will not count as… Read More »
Special needs trusts (SNTs) can be extremely useful tools to provide supplemental income to an individual who needs special care but lacks the funds to pay for it. With proper utilization of an SNT, an individual can receive disbursements from the trust without affecting their eligibility for Supplemental Security Income (SSI), Medicaid, and other… Read More »
Governmental programs such as Medicare and Supplemental Security Income (SSI) provide necessary assistance to individuals who need care but lack the funds. Those programs help a person with disabilities afford many of the basic necessities of life, including housing and medical care. However, if a person earns too much income, or is gifted too… Read More »
Medicaid is an essential element for many people to afford long-term care. Long-term care is extremely expensive, and unless you are already wealthy or have a long-term care insurance policy in place, you may need assistance paying for nursing or retirement home care. Medicaid is a needs-based governmental program that covers the costs of… Read More »
A guardian is a surrogate decision-maker appointed by the court to make legal, medical, and/or financial decisions on behalf of another person. For example, a guardian may be appointed to care for a minor whose parents are deceased or otherwise unavailable. A guardian may also be appointed for an adult who cannot make their… 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 »
Serving as trustee to a trust, especially a special needs trust, is no small undertaking. It can be a time-consuming and complex endeavor. Moreover, administering a trust properly requires adhering to a number of regulations as well as to the guidance of the trust documents, carrying potential liability for any missteps. For that reason,… Read More »