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Recent Blog Posts
Special Needs Planning and COVID-19
The coronavirus pandemic is causing devastation around the world, both medically and financially. The stock market is consistently experiencing single-day drops that mirror the worst in U.S. financial history. With such volatility in the markets, depressed asset values, and historically low interest rates, it is the perfect time to review your estate plan, especially… Read More »
Tips for Creating a Special Needs Estate Plan
Every parent wants to ensure that their children are taken care of after they pass away. Designing a will, trust, and other aspects of an estate plan that ensures the welfare of the decedent’s children is one of the key components of estate planning. If you have a child with a disability, even an… Read More »
Why Special Needs Planning Matters: The Unfortunate Example of Aretha Franklin
Legendary singer and Queen of Soul Aretha Franklin passed away in August 2018 at the age of 76. Shortly thereafter, CNN reported that Aretha Franklin had executed no will or trust to account for the distribution of her $80+ million estate. She is survived by four sons, one of whom has special needs. The… Read More »
Why You Need a Qualified Medicaid Planning Lawyer
Planning for your future and for that of your elderly loved ones is extremely important. If you expect that you or your family will need financial assistance in order to afford long-term care, it is vital that you work to develop a Florida estate plan with an eye towards maintaining eligibility for needs-based governmental… Read More »
Palm Beach County Proclaims November 2019 Alzheimer’s Awareness Month
The Palm Beach County Commission officially declared November 2019, as Alzheimer’s Public Awareness Month by issuing a proclamation on Tuesday, November 5th. As Vice-Chair of the Board of Directors of Alzheimer’s Community Care, attorney G. Mark Shalloway was on hand to share in the honor and recognition given to Alzheimer’s Community Care. Mr. Shalloway… Read More »
The Different Types of Special Needs Trusts
Parents want to provide for their children. If that child has special needs, the desire to protect and provide for that child takes on a whole new level because a child with special needs may never be fully independent. While parents may be tempted to give money or assets directly to these children, such… Read More »
Can a Structured Settlement Help My Special Needs Planning?
Structured settlements are a perfect addition to the funding of your Supplemental Needs Trust or Special Needs Trust. If structured properly, they can provide stable income over time, along with tax benefits and guarantees without harming eligibility for needs-based programs such as Medicaid. Continue reading for a discussion of how a structured settlement can… Read More »
What is the Medicaid Community Spouse Resource Allowance?
According to studies, more than 50% of Americans will end up in a nursing home or other long-term care facility after age 65. As we have previously discussed, long-term care is incredibly expensive. For many people, the only way to reasonably expect to afford long-term care is through government needs-based funding like Medicaid. There… Read More »
Rising Nursing Home Costs a Reminder of the Importance of Medicaid Planning
Long-term care after retirement is expensive, often prohibitively so. Nursing home care can cost upwards of $100,000 or more annually, depending on location and type of facility. While Medicare covers some medical costs, it does not cover long-term care in nursing homes. For many people, the only way to afford long-term care as a… Read More »
Understanding the Five-Year Look-Back for Medicaid Eligibility
We previously discussed some of the common misconceptions clients have about Medicaid planning. One area we mentioned merits further discussion: the individual net value maximum and the five-year look-back period for Medicaid eligibility. Read on for an explanation of the look-back, and reach out to a dedicated West Palm Beach Medicaid planning and elder… Read More »