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Estate planning includes the creation of wills and trusts, elder law and Medicaid planning including the avoidance of the Medicaid Estate Recovery Program.

Qualifying for Florida Medicaid Despite Higher Income and Assets Over the Limit

Medicaid is a robust state-sponsored insurance program that can pay for long-term care in nursing facilities, at-home care and certain medical expenses.   Medicaid is generally intended for applicants with low or no income and assets.  In Florida, Medicaid applicants in 2022 are required to make less than $2,523.00 in gross income, with some deductions considered, [...]

2022-07-24T01:17:39+00:00Medicaid Planning|

The Complexity of Joint Property Ownership in Florida

The laws related to real estate ownership in Florida can be complex. These complexities become even more pronounced when joint property ownership is a factor. When properties are owned by more than one title holder, it is not uncommon that legal matters arise that require the involvement of an experienced real estate and estate planning [...]

Reasons to Choose South Florida Law as Your Estate Planning Attorneys

Knowledge and Experience South Florida Law is a firm with attorneys who are licensed to practice law in the State of Florida and who have extensive knowledge and experience in dealing with matters related to estate planning, elder law and business succession planning.   Small Firm Attention to Detail We began as a boutique and still [...]

2022-01-23T16:37:39+00:00Estate Planning|

Reduce Inheritance Taxes with a Generation-Skipping Trust

For families with a high net worth, inheritance and estate planning can be complex.  Fortunately, with the assistance of a knowledgeable estate planning attorney, there are a number of ways for these families to provide a financial legacy for descendants in a tax-advantageous way.  One such estate planning tool is a generation-skipping trust (GST).  When [...]

2022-01-23T16:55:34+00:00Elder Law, Estate Planning|

Medicaid Eligibility Activities of Daily Living (ADLs)

For Medicaid eligibility, there are a set number of activities that the program takes into consideration when determining whether to approve an applicants request for coverage. These are in addition to Medicaid means testing in which the program reviews assets and income to determine Medicaid eligibility. Activities of Daily Living (ADLs) for Medicaid Eligibility   [...]

2022-01-23T17:30:02+00:00Elder Law, Medicaid Planning|

Medicaid Planning Facts

Medicaid Planning - Florida Medicaid is the state and federal partnership that provides health coverage for selected categories of people, including the elderly, in Florida. Because having low income and virtually no assets is an eligibility requirement, one of the most complex areas of estate planning involves preparing someone with significant income and assets for [...]

2022-01-23T17:38:06+00:00Elder Law, Medicaid Planning|

Qualified Income Trusts (A Medicaid Solution for Florida Residents)

Long-term care for seniors delivered in a nursing home setting can be prohibitively expensive for most people. Still, some 70% of those over 65 are expected to need long-term care with 20% of seniors likely to require it for five or more years. Medicaid provides financial assistance to those requiring long-term care and qualified income [...]

Navigating Medicaid Means Testing

By most people’s standards, a nursing home can be very expensive. It is not unusual to pay anywhere between $5,000 and $10,000 a month to a facility for an individual (or double that cost for a couple). Medicaid means testing ensures that the people who have the greatest financial need for coverage receive Medicaid benefits. [...]

Beneficiaries 101: What to know about those who are designated to receive assets

Many estates include assets with beneficiaries already designated to them.  These include life insurance policies, investments accounts like IRAs and 401Ks and bank accounts.  Language naming beneficiaries in the contracts which govern these assets may supersede the language in a will.     In estate planning, it is important to understand the types of beneficiaries and how [...]

2021-09-29T21:01:13+00:00Estate Planning|

Non-Financial Aspects of Estate Planning

When you think of estate planning is the only thing that comes to mind how your money will be distributed after you pass?  If so, think again. An estate plan outlines how the legacy you leave behind should be allocated and cared for after you are no longer there to manage it.  While your financial [...]

2021-04-04T22:54:11+00:00Estate Planning|